Google has been ranked the world’s biggest media platform for three years with a worth of $281.3billion, four times more than TikTok and Facebook, data presented by OnlyAccounts has revealed.
The tech giant has reshaped the news landscape, transformed the music industry and revolutionized video consumption with a brand strength index score of 93.2/100 and a prestigious AAA+ rating.
Meanwhile, TikTok has climbed to Third Place of the Biggest Media Brands, Facebook has dropped to the Third Spot.
According to the Brand Finance survey, Google’s brand value growth results from the continued evolution and expansion of its services, including Google Cloud, Google Pixel, and Google Wallet.
Statistics show the Californian tech giant hit a brand value of $281.4bn in 2023, 7% more than last year and four times more than its runner-up TikTok.
However, TikTok climbed two spots in this year’s ranking. In 2022, the video-sharing app was the fourth largest media brand in the world, worth $59.8bn. However, after its brand value jumped by 11% year-over-year to $65.7bn, the Chinese short-form video platform jumped to second place, ahead of Facebook.
The world’s largest social media giant saw its brand value plunge year-over-year, falling from $101.2bn to roughly $59bn, the biggest decline among the top five names. WeChat and Disney closed the top five clubs, with brand values of $50.2bn and $49.5bn, showing a drop compared to last year’s valuations.
Instagram climbed one spot and ranked as the world’s sixth most valuable media brand, worth $47.4bn in 2023, up from $33.4bn last year. Statistics show YouTube, the eighth most valuable media brand worth $29.7bn, switched spots with Netflix, which dropped to ninth place with a valuation of $24.1bn.
Also, Twitter brand value plunged 32% since Musk’s takeover. Ever since it was bought by billionaire Elon Musk for $44bn last October, X, formerly Twitter, has been losing users, traffic, and advertising revenue. However, the Brand Finance data show its brand value has also plunged.
In 2022, Twitter was the 26th most valuable media brand globally, worth roughly $5.5bn. However, the brand’s reputation has decreased substantially since Musk’s takeover. Statistics show that Twitter’s brand value has dropped by a massive 32% over the past twelve months, causing the brand to fall by eight positions in the Brand Finance Media 50 ranking.