Apple Still World’s Most Valuable Brand at $355-B, Tiktok World’s Fastest Rising Brand

Apple retains the crown as the world’s most valuable brand–retaining the title it won back last year after losing it for five years straight, while social media platform Tiktok emerges as the worlds fastest rising brand, according to the the annual Brand Finance Global 500 index.

Apple’s valuation stands currently at over US$355 billion after the Cupertino firm experienced a 35% increase which is the highest brand value ever recorded in the Brand Finance Global 500 ranking.

“Apple commands an amazing level of brand loyalty, largely thanks to its reputation for quality and innovation. Decades of hard work put into perfecting the brand have seen Apple become a cultural phenomenon, which allows it to not only compete, but thrive in a huge number of markets. With rumours abounding of its foray into electric vehicles and virtual reality, it seems it is ready for a new leap,” according to David Haigh, Chairman & CEO of Brand Finance.

Apple is followed by Amazon and Google in the rankings.

Meanwhile, social media standout Tiktok is leading a media revolution, securing a 215% growth year-on-year, equating to an increase to US$59.0 billion this year from US$18.7 billion in 2021.

This growth is good for the 18th spot among the world’s top 500 most valuable brands.

Tiktok’s growth is highly attributed to the restrictions brought about by the COVID-19 pandemic as digital entertainment, social media, and streaming services saw a sharp increase in usage and growth.

Tiktok “acted as a creative outlet and provided a way for people to connect during lockdown,” according to the report. (GFB)