TikTok Ranks Among the World's Fastest-Growing Brands

The international independent research agency, Brand Directory, released a list of the world's most valuable brands in its 2022 Brand Finance Global 500 report. TikTok is included in the list of brands with the highest valuation growth.

The ranking is calculated based on the brand value of each company. In the business world, brand value is one of the most important indicators for companies, especially in reaching consumers.

The report shows that Apple topped the list of the world's most valuable brands in 2022. Meanwhile, TikTok ranked 18th but became the fastest-growing brand in the world.

The brand value of the short-video application has increased from US$18.7 billion in 2021 to US$59 billion this year. This means its growth is approximately 215% year-on-year.

Brand Directory assesses that with the COVID-19 restrictions still in place worldwide throughout 2021, digital entertainment, social media, and streaming services continued to grow, and TikTok's rise is evidence of how media consumption is changing.

With its easily digestible and entertaining content offerings, TikTok's popularity is spreading worldwide. Furthermore, TikTok is also the most downloaded application on the Google Play Store and App Store.

Meanwhile, the fastest-growing brands below TikTok are Snapchat and Kakao Corp. The brand value of these two messaging applications has grown by 184% and 161% year-on-year, respectively.

(Also Read: Unable to Upload Videos Anymore, Russian TikTok Users are the 4th Largest in the World)