TikTok Usurps Facebook As Most Valuable Social Media Brand

Tyumen, Russia - January 21, 2020: TikTok and Facebook application  on screen Apple iPhone XR

TikTok has overtaken Facebook as the world’s most valuable social media brand, jumping eight places in Brand Finance’s annual Global 500 report.

Brand Finance’s annual report tanks companies for their brand value and, this year, TikTok and its Chinese counterpart Douyin were valued at US$65.7 billion (around AU$94.25 billion) and joined the top 10 most valuable brands in the world — representing an 11 per cent year-on-year growth.

Facebook, meanwhile, fell from seventh in the list last year and saw its value almost half from more than US$100 billion last year to just US$58.8 billion. It even fell behind US retailer Home Depot.

Brand Finance’s global list ranks “brand value,” which measures how much of a company’s profits are attributable to its brand. Its ratings are often used in mergers and acquisitions to measure the intangible assets that a company owns.

“The main issue for Facebook is its revenue declined for a second consecutive quarter in 2022, due to falling advertising sales as it faces competition from TikTok,” Brand Finance Australia’s managing director, Mark Crowe, said.

However, Crowe said that Facebook maintained good “brand strength.”

Amazon and Apple maintained their positions as the world’s most valuable brands, being rated at US299.e billion and US$297.5 billion, respectively. However this represented a -15 per cent year-on-year decline for Amazon and a -16 per cent year-on-year drop for Apple.

Google, on the other hand, saw its value jump by 7 per cent to to US$281.4 billion to round out the top three. Tesla saw the greatest increase in value of any top 10 company, seeing a 44 per cent boost in value to US$66.2 billion.

Woolworths was the top Australian brand on the list. Telstra, Commonwealth Bank, Coles, NAB, BHP, and ANZ were also flying the flag for Aussie businesses in the top 500.

Please login with linkedin to comment

Meta Twitter

Latest News

Canva Unveils Enterprise Era With Powerful New Workplace Products Debuted At Canva Create
  • Media

Canva Unveils Enterprise Era With Powerful New Workplace Products Debuted At Canva Create

At its first international Canva Create event in Los Angeles today, Canva, the world’s only all-in-one visual communication platform, accelerated its focus on the enterprise, debuting the platform’s biggest overhaul in a decade alongside a range of new workplace products and services poised to redefine the way millions of people work. Lead image: Canva Founders […]

Cashrewards: A Decade Strong!
  • Partner Content

Cashrewards: A Decade Strong!

Cashrewards' CEO muses on the company's 10 year anniversary. Still refusing to answer questions about a possible party.

Partner Content

by B&T Magazine

B&T Magazine
Network 10 Axes Gladiators
  • Media

Network 10 Axes Gladiators

Alas, 10's Gladiators has gone as quickly as it came. Should make for a very wild garage sale, however.