Top 5 most valuable brands in SEA

PETRONAS has once again been ranked as the most valuable ASEAN brand in Southeast Asia, with a brand value of US$13.6 billion. According to Brand Finance's top 500 global brands ranking, this is 13% higher than the previous year. The increase is attributed to the rising energy demands as the economy recovers from the impact of the pandemic, which has allowed PETRONAS to bounce back this year from the challenges that the oil and gas industry had to face in 2020.

Aside from PETRONAS, six other ASEAN brands were also included in the list. Coming in second was Vietnamese telecommunications company, Viettel, which had the highest-ranking growth amongst the ASEAN brands. This year also saw new entries to the list with brands such as UOB and Telkom Indonesia.

In fifth place, UOB surpassed OCBC Bank with a 23% increase to its brand value. Meanwhile, Telkom Indonesia entered the list for the first time with a brand value increase of 22%. Despite the uncertainty and challenged posed by the pandemic, the report said that all seven ASEAN brands had positive brand value growth of 5% to 44%.

TikTok triples in brand value, Apple continues dominance

Meanwhile, TikTok was ranked the fastest growing brand this year, tripling in brand value over the past year. The company witnessed a 215% growth and a brand value increase from US$18.7 billion in 2021 to US$59.0 billion this year and claimed the 18th spot among the world's top 500 most valuable brands. Following closely behind is Snapchat with a 184% increase in brand value to US$6.6 billion and Kakao, up 161% to US$4.7 billion. 

Other notable performers from the media sector include those that offer streaming services, with Disney (brand value up 11% to US$57.0 billion), Netflix (brand value up 18% US$29.4 billion), YouTube (brand value up 38% to US$23.9 billion), and Spotify (brand value up 13% to US$6.3 billion) all seeing increases.

In stark contrast, traditional media brands have seen a continued decline, with people favouring social media platforms and on-demand streaming in their place. According to Brand Finance, Warner Bros is among the fastest-falling brands in the ranking this year (brand value down 33% to US$6.8 billion), and this trend is even more apparent when comparing this year with pre-pandemic valuations.

Looking at brand value change over the last two years of COVID-19, three media brands feature among the five fastest-falling brands – Warner Bros saw the biggest brand value loss at 40%, with NBC (brand value US$9.4 billion) and CBS (brand value US$7.4 billion) seeing losses of 38% and 36% respectively.

Meanwhile, Apple retained the title of the world's most valuable brand following a 35% increase to US$355.1 billion. According to Brand Finance, this is the highest brand value ever recorded in its global 500 ranking. This was followed by Amazon, Google, Microsoft, and Walmart. Overall, the global top 10 brands saw an average brand value increase of 22% owing to stronger brands and strong revenue forecasts.

Tech remains the most valuable industry 

The tech sector is once again the most valuable in the Brand Finance Global 500 ranking, with a cumulative brand value of close to US$1.3 trillion. In fact, technology and tech brands have become significantly important in the modern world, a trend that has only been exacerbated by the pandemic, said the report.

While there were 50 tech brands featured in the ranking, Brand Finance attributed the brand value to three big players such as Apple (US$355.1 billion), Microsoft (US$184.2 billion), and Samsung Group (US$107.3 billion). According to the report, the numbers from these three brands altogether account for more than 50% of the total brand value in the sector. Following closely behind is Huawei, which reclaimed its place among the "Top 10 Most Valuable Brands" in the world, following a 29% growth to US$71.2 billion

Brand Finance's managing director for Asia Pacific, Samir Dixit, said that Apple's ranking as the top is not accidental but a result of its concentrated brand-focused strategy that drives an "amazing level of brand loyalty" amongst the customers, young or old. "The brand Apple is able to successfully navigate through the cultural challenges across a huge number of markets. And with their likely rumoured entry into electric vehicles, there will be continued growth for the brand in the coming years," Dixit explained. 

Photo courtesy: 123RF

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