The world's 25 most valuable media brands could lose up to 10% of brand value, about $US40 billion, from the COVID-19 pandemic, according to analysis by Brand Finance.
Richard Haigh, managing director, Brand Finance, says the fortunes of the world’s most valuable media brands are mixed.
"On the one hand, the far-reaching and extended lockdowns that have been imposed worldwide have caused a shift in consumer behaviour and thus an increase in demand for online media platforms and streaming services in particular," he says.
"However, this increase in demand and subscribers may not offset, or compensate for, COVID-19’s impact on advertising, which many media brands rely on heavily for their revenue.”
Brand Finance, including social media platforms in its calculations for the first time, says Facebook has taken the title as the world’s most valuable media brand, valued at $US79.8 billion.
Facebook is the most popular social media platform in the world with more than 2.5 billion active monthly users.
“Facebook is no stranger to being at the centre of controversy and criticism, specifically around uncensored political messaging and false information allowed on the platform," says Haigh.
"The Black Lives Matter movement in the US has been the catalyst for many advertisers to change their stance on their acceptance of misinformation and mass manipulation, causing them to question their continued use of the site. Which side will buckle first is unknown.
"Advertisers may be unable to resist the appeal of Facebook advertising, but equally Facebook might not be able to suffer the losses for much longer. It’s too early to tell how its brand value will emerge from the chaos of 2020.”
The 10 most valuable media brands:
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