TikTok has entered BrandZ’s 2020 top 100 most valuable brand ranking: as its highest new entry at number 79.
Valued at $16.9bn, TikTok is ahead of Uber, Adidas and Pepsi (no’s 85, 92 and 99 respectively).
TikTok also features in BrandZ’s top 10 for media and entertainment brands.
Downloaded over 1.5 billion times with 800 million active users worldwide it is no surprise that brands are vying to be associated with TikTok, particularly as it’s one of the most popular social media platforms for Gen Z users.
“TikTok as a brand hasn’t been around for very long at all, but it’s already seen as incredibly creative,” says BrandZ’s global head of research, Martin Guerrieria. “If your brand is seen as being more creative than your competition, that’s a huge driver in value.”
Other social media platforms feature highly in BrandZ’s top 100 with Instagram at number 29 ($41.5bn), You Tube 37 ($37bn) and LinkedIn 43 ($29.9bn)
Within the specific ranking for the media and entertainment sector, Instagram had the highest growth in brand value, placing at number 24 with a 47% increase in brand value to $41.5bn, ahead of Netflix (number 26, $45.9bn), up 34% this year.
BrandZ saw social brands appearing in their top 100 in 2011 with Facebook placed at number 35 and a new entry with a 246% value increase from the previous year up to $19.1bn. 2014 saw LinkedIn enter the Top 100 in 2014 at number 78 and Instagram joined them in 2018 with a placement at 91, increasing to number 44 in 2019 becoming 2019’s fastest riser.
Now Facebook resonates less well with a younger generation of users for a number of reasons, is TikTok able to continue to maintain its fresh and fun content whilst able to attract brands and broaden its user demographic, particularly with the launch of a TikTok for business service?