New data from Brand Finance reveals that X (formerly Twitter) has dropped out of global media brand ranking
Elon Musk’s decision to abandon the Twitter name for a new brand has led to a significant loss of brand value for the former media giant, according to new data from Brand Finance. In January 2022, Brand Finance valued Twitter at USD5.7 billion, falling to nearly USD3.9 billion in 2023. In 2024, the brand’s value plummeted further to just USD673.3 million, causing it to drop out of all Brand Finance rankings for the year. Its brand strength index (BSI) score has also declined considerably by 12.7 points to 56.9/100, signalling a major reputational crisis that the brand is struggling to overcome.
According to Fortune, X experienced a sharp decline in ad revenue, plummeting to approximately USD600 million per quarter in 2023 from over USD1 billion per quarter in 2022. This reduction is particularly notable as ad sales constitute approximately three-quarters of X’s total revenue. The downturn underscores advertisers’ reported concerns regarding X’s content moderation under Elon Musk’s leadership.
Richard Haigh, Managing Director at Brand Finance, commented, “Musk’s controversial rebranding of Twitter has resulted in a dramatic and abrupt decline in brand value and strength. The hasty abandonment of a globally recognised name, without a clear migration plan, has had disastrous consequences, alienating key stakeholders and eroding the brand’s core strengths. This is reflected in the brand’s weaker scores in the familiarity, reputation, and recommendation metrics of Brand Finance’s research.”
In Brand Finance’s latest Media 50 ranking, Google maintains its leadership as the most valuable media brand for the fourth consecutive year. TikTok follows in second place, marking a year of remarkable brand value growth. Meta’s portfolio has also shown substantial growth, with Instagram leading as the fastest-growing media brand, soaring 48% to USD70.4 billion. WhatsApp has experienced a 29% increase to USD10.4 billion, and Facebook has grown by 28% to USD75.7 billion.
WeChat tops the brand strength index with a score of 94.3/100, reflecting its essential and familiar role in China, despite a 17% decrease in brand value to USD41.8 billion amid ongoing economic challenges.