Ratings for the Big Four accounting firms have dipped in this year’s global survey of the most valuable brands, which sees Google replace Apple as the world’s top brand, with a value of $109.5bn (£86.7bn)
The annual Brand Finance’s Global 500 listing ranks brands by monetary value and also calculates the most ‘powerful’ brands, as defined by the companies whose enterprise value is most positively impacted by the strength of their brand. This year, Lego has replaced Disney as the most powerful brand in the world.
In order to determine a brand’s value, Brand Finance first evaluates factors such as marketing investment, familiarity, loyalty, staff satisfaction and corporate reputation to determine the ‘strength’ or ‘power’ of a brand. Brand power determines the proportion of overall business revenue that is contributed by a brand.
Google’s brand value rose during 2016 by 24% from $88.2bn (£70.5bn) while Apple’s declined from $145.9bn to $107.1bn. Google last occupied the position of the world’s most valuable brand in 2011.
Accounting firms
PwC was the highest ranked accounting and audit firm, at number 66, a drop from 57th place in 2015. The firm’s brand value was estimated at $18.5bn (£14.8bn). Deloitte stood at 77 (previously 69), with a brand value of $16.7bn. EY came in at 98 (previously 91), with a brand value of £13.3bn, while KPMG is still outside the top 100 ranking, at 124, compared to 107 the previous year, with an undisclosed monetary value.
Overall, financial services companies comprise 20% of the Global 500 and, this year, China’s ICBC financial conglomerate replaced Wells Fargo as the most valuable financial brand, ranked at number 10 on the list.
However, Wells Fargo only fell three places on the overall ranking of most valuable brands, remaining the US’s most valuable banking brand, due to its deep roots across the country and its market share.
Payment service providers Visa (57) and Mastercard’s (110) brand value grew by 81% and 58% respectively in 2016, as their core markets continued to move towards a cashless society and become increasingly reliant on the two companies’ services.
