Facebook has seen the value of its brand decline by 7.4% over the past year to $147bn (£120bn), according to Kantar’s BrandZ Global Top 100 Most Valuable Brands ranking. It is the second year in a row the social media platform’s brand value has fallen, following a 2% decline last year.
The change means Facebook falls two places in the ranking from sixth to eighth, being overtaken by Chinese tech giants Alibaba Group and Tencent, both of which recorded double-digit rises in their brand values.
The downward slide will be troubling for Facebook, which is facing an advertiser boycott from a growing number of brands, now including consumer giants such as Unilever, Diageo, Coca-Cola and Starbucks, in response to its policies on hate speech.
But it is not all bad news for Mark Zuckerberg: while Facebook recedes, Instagram has grown its value by 47.1% to $41.5bn, moving up 15 places in the ranking from 44th to 29th. Instagram is the second-fastest grower in the top 100, following Chinese alcohol brand Moutai, ranked at 18th with a value up 58.5% to $53.8bn.
Amazon, which last year overtook both Apple and Google to nab first place in the ranking, consolidated its position by growing its brand value by 31.8% to $416bn – meaning it added a massive $100bn to its brand equity.
Apple kept second place, growing its brand value by 13.8% to $352bn, but Microsoft came third after recording growth of 30% to $327bn, narrowly overtaking Google, which two years ago topped the ranking.
There was also impressive growth for Netflix (ranked 26th, up 33.8% to $45.9bn), while TikTok (ranked 79th at $16.9bn) was one of six new entrants in the top 100.
BrandZ calculates the value of a brand with a methodology that determines the proportion of a company’s financial value that is contributed by its brand equity. This year's ranking covers the 12 months up to 7 April, meaning the figures may not reflect the full impact of the coronairus pandemic.