The viral dance social network took over from Facebook and saw its brand value reach $65 billion. Check the ranking
TikTok has dethroned Facebook as the world’s most valuable branded social network in 2023, according to Brand Finance’s ranking. Mark Zuckerberg’s company brand lost 42% in value over the past year, while ByteDance’s social network brand saw its value grow by 11.4%.
This year, the TikTok brand is valued at US$ 65.69 billion (R$ 341.50 billion) against US$ 58.98 billion (R$ 306.64 billion) last year. In 2022, the company had already been classified as “the fastest growing brand in the world” after recording a 215% increase in brand value from 2021 to 2022. From #18 on Brand Finance’s ranking of the world’s most valuable brands, TikTok has risen to #10 this year.
According to the consultancy, the rise of TikTok is proof of how media consumption is changing. “With its easily digestible and entertaining content offering, the app’s popularity has spread across the world. (…) it also acted as a creative outlet and provided a way for people to connect during the pandemic,” the report reads.
By contrast, Facebook took a $42 billion hit to its brand value. The company that ranked 7th last year fell to 14%. Its brand value decreased from US$ 101.2 billion (R$ 526.14 billion) to US$ 59 billion (R$ 306.74 billion) this year, a decline of 41.7%.
In addition to losing space among other social networks, Facebook also lost priority among the products of its parent company, Meta. Mark Zuckerberg continues to aim to make the metaverse grow and develop.
To counterpoint TikTok, its bet has been Instagram, not Facebook. A bet that paid off, at least in terms of brand value: Instagram appreciated 41.5% over the course of 2022 and moved from 47th to 26th this year, with its brand valued at US$ 47.4 billion (R $246.43 billion). The surge was great, but it did not surpass that of LinkedIn.
Although it is the brand with the lowest value among the others, the company saw its valuation skyrocket 49% last year, to US$ 15.5 billion (R$ 80.58 billion). According to Brand Finance, both grew “due to the well-executed strategy to market their services”.
Snapchat and Twitter withdrew from participating in the ranking, according to the consultancy.