Making Creator Headlines · Page 9
Entertainment's Brands Overtake Cars, Even as Hollywood Checks Its Budget
· New York time
Entertainment has passed automotive to become the world's second-largest sector by brand value in Interbrand's Best Global Brands report. The consultancy puts the cumulative value of entertainment companies' brands at $332.5 billion, up 12.4% from a year earlier. Netflix's brand value rose 22%, while YouTube and Spotify also climbed in the rankings. The assessment arrives as Hollywood faces layoffs and budget cuts. Those facts can coexist: a consultancy's estimate of brand value is not the same thing as cash available to every studio or employee. Strong platform brands can be valuable while individual parts of the industry remain under pressure. For executives, the ranking offers a sizable number to celebrate. For workers hearing about another round of cost controls, it may sound like the sector has put its wealth on a poster instead of in the budget.
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