Facebook topples from list of top ten most-innovative brands
Battling fake news, mass data breaches and a stomach-lurching drop in share prices, it’s hardly been a good year for Mark Zuckerberg, and as if to rub salt in the wound, the social network and tech colossus has now fallen out of sight on a rank of the world’s most innovative brands.
The revelation comes as part of Brand Keys’ sixth annual Most Innovative Tech brands survey, which featured Amazon, Apple and Google in the top three of the consumer-voted list, while Netflix, Samsung, Spotify, YouTube, Instagram, Uber, Lyft and IBM made up the rest of the pack.
Facebook wasn’t the sole top-flight casualty, however, with Buzzfeed and The Washington post losing footing, while Snap fell 10 points to be ranked nineteenth.
Based on consumer brand perception, it’s likely Facebook’s turbulent year is behind its fall from grace, fuelled by public concerns around data privacy, the impact of Russia-backed fake news and advertising on the 2016 presidential elections, and a general loss of confidence in the platform following a reported drop in users.