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WeChat is World’s Strongest Tech Brand
As the pandemic continues to wreak havoc on the global economy, tech brands have recorded mixed fortunes this year. The top 100 most valuable tech brands in the Brand Finance Tech 100 2021 ranking have grown by 9% on average, faring much better than other sectors globally.
The Brand Finance Tech 100 2021 ranking is split into sub sectors, with electronics, retail, semiconductors, software, media & games, travel sites analysed separately as these brands make up more than 80% of the total brand value in the ranking. All brand values are correct as at 1st January 2021.
Electronics: Apple bites back
Apple has overtaken Amazon and Google to reclaim the title of the world’s most valuable tech brand, according to the latest report by Brand Finance – the world’s leading brand valuation consultancy. Apple has the success of its diversification strategy to thank for an impressive 87% brand value increase to US$263.4 billion and its position at the top of the ranking. For the fist time since 2016, Apple has also been crowned the world’s most valuable brand, according to the Brand Finance Global 500 2021 ranking.
Under Tim Cook’s leadership, especially over the past five years, Apple began to focus on developing its growth strategies above and beyond the iPhone – which in 2020 accounted for half of sales versus two-thirds in 2015. The diversification policy has seen the brand expand into digital and subscription services, including the App Store, iCloud, Apple Podcasts, Apple Music, Apple TV, and Apple Arcade. On New Year’s Day alone, App Store customers spent US$540 million on digital goods and services.
Apple’s transformation and ability to reinvent itself time and time again is setting it apart from other hardware makers and has contributed to the brand becoming the first US company to reach a US$2 trillion market cap in August 2020. With rumours resurfacing that Apple’s hotly anticipated Titan electric vehicle foray is underway again, it seems that there is no limit to what the brand can turn its hand to.
Lorenzo Coruzzi, Associate, Brand Finance commented:
“Apple has successfully reinvented its capabilities, while remaining faithful to its core: enriching people’s life through innovative design. Under Tim Cook’s leadership, it has been successfully diversifying its revenue mix shifting towards more profitable segments – showcasing that it is truly resilient against its competitors.”
Retail: Alibaba.com up 108%
Despite relinquishing its position at the top to Apple, second-ranked Amazon has still managed to record a healthy 15% brand value growth to US$254.2 billion and is the second most valuable tech brand. The retail giant is one of the few brands that benefitted considerably from the pandemic and the resulting unprecedented surge in demand as consumers turned online following store closures. Over Q2 and Q3 of 2020, e-commerce platforms experienced the highest revenue growth since 2016.
Most recently – further leveraging the circumstances of the pandemic – Amazon has acquired 11 passenger planes from struggling North American airlines to expand its air logistics capabilities. A tactical purchase to support its fast-growing customer base, but also a strategic move towards building its own end-to-end supply chain, the fleet can allow the brand to become a serious contender in air transportation in due time.
Another example of Amazon’s relentless innovation in the face of global adversity, the brand has also announced its foray into the health sector with the launch of Amazon Pharmacy and fitness tracker Halo. Before it brought success to Apple, daring diversification had already been the hallmark of Amazon’s growth strategy, which it continues to pursue with impressive results.
Amazon’s Chinese equivalent, Alibaba.com has also benefitted from the unprecedented surge in demand, as consumers in China turned to online shopping during the pandemic. The retail giant’s brand value has been boosted by an eyewatering 108% to US$39.2 billion, making it the fastest growing brand in the ranking. Alibaba subsidiaries, Taobao, up 44% to US$53.3 billion, and Tmall, up 60% to US$49.2 billion, have enjoyed parallel successes, their online business models providing ease of access and convenience for consumers.
Semiconductors: Nvidia acquisition of Arm pays off
As artificial intelligence, data centres, 5G technology, IoT, and autonomous vehicles are rapidly growing, semiconductor brands are perfectly positioned to match this growth as this demand requires a new era of sensors, memory, and chips. On average, semiconductor brands have grown 16%, of these Nvidia is the fastest growing, up 73% to US$8.1 billion.
Nvidia’s announcement of the US$40 billion deal to acquire Arm – British chip designer company – has caused quite a stir across the industry as Nvidia sets its sights on becoming the top player for the next generation of processing and AI.
The most valuable semiconductor brand by a significant margin, Intel, has increased its brand value by 16% this year to US$31.8 billion. From its next-generation chips being set back due to delays in sales of its current-generation chips, to Apple making the move to make its own computer chips, Intel has negotiated a turbulent year. Perhaps in a move to remain relevant, Intel has undergone a rebranding, introduced as part of the brand’s effort to be more aspirational and reflect the goals ahead.
Lorenzo Coruzzi, Associate, Brand Finance commented:
“Intel has been the largest chipmaker for most of the past 30 years, combining the best designs with cutting-edge factories. While the decision to outsource chip manufacturing has not yet officially been taken, long delays in production and design have been hindering the brand in recent years, placing it in a tricky position against competitor TMSC and other players. Outsourcing would mean giving up Intel’s historical competitive advantage and might have deep geopolitical consequences in the years ahead. With the arrival of the new CEO, Pat Gelsinger, in February it will soon be clearer the direction the company begins to take.”
Software: WFH boosts brands
Video conferencing and business communication software has taken centre stage as the working from home revolution takes hold globally. Salesforce’s (brand value up 29% to US$ 13.2 billion) acquisition of Slack is a clear signal that the brand wants to become more competitive in the space, especially against leader Microsoft (up 20% to US$140.4 billion). It will remain to be seen whether this platform integration will be effective and deliver the expected value.
Google is the most valuable software brand and sits in the third in the complete tech ranking, following a marginal 1% uplift in brand value to US$191.2 billion. Slightly behind its peers in terms of diversification, Google recorded its first ever revenue decline as a result of the pandemic. The vast majority of the brand’s revenue comes from advertising, which took a hit over the last year as marketing budgets tightened.
Media & Games: WeChat is sector’s & world’s strongest
Brand Finance determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. According to these criteria, WeChat is the strongest tech brand – and the world’s strongest brand – with a Brand Strength Index (BSI) score of 95.4 out of 100 and a corresponding elite AAA+ brand strength rating.
Alongside revenue forecasts, brand strength is a crucial driver of brand value. As WeChat’s brand strength grew, its brand value also enjoyed a rapid boost, increasing by 25% to US$67.9 billion.
As one of China’s home-grown tech successes with very strong equity, WeChat enjoyed high scores in reputation and consideration among Chinese consumers. WeChat has successfully implemented a broad and all-encompassing proposition, that offers services from messaging and banking, to taxi services and online shopping – the all-in-one app has become essential to many users’ daily lives.
During the pandemic, WeChat ran several government-mandated health code apps to keep track of those travelling or in quarantine, providing access to real-time data on COVID-19, online consultations, and self-diagnoses services powered by artificial intelligence to over 300 million users.
The media landscape continues to evolve with traditional media outlets falling victim to their modern counterparts. In line with positive trends in brand value in the new media sector, Spotify has climbed 15 spots in the ranking from 80th to 65th, enjoying an impressive 39% boost in brand value to US$5.6 billion. The last year has seen a significant increase in new users as the music streaming platform expanded its operations into 13 new markets. Spotify is primed for further success as it continues to develop its capabilities, signing exclusive podcast contracts with Archie Comics and Joe Rogan, and acquiring Megaphone from Graham Holdings to improve its own podcast technology.
In contrast, Twitter has recorded a 18% brand value drop to US$3.1 billion. The social media platform’s actions have come under intense scrutiny as the handling of former President Trump’s account has sparked raucous debate, surrounding freedom of speech versus Trump’s use of the platform to incite violence, and spread false claims.
Lorenzo Coruzzi, Associate, Brand Finance commented:
“Podcasts are one of the key reasons why consumers move to premium subscription on music streaming services. The global podcast market size was expected to reach US$11.1 billion in 2020 and is expected to grow by nearly 30% by 2027. With these predictions, and competitors already demonstrating their intent in the market, it won’t be easy for Spotify to retain the crown of music streaming brand”.
Travel sites: victims of COVID-19
As holidays are cancelled and people are instructed to work from home, the hospitality sector has reached an almost complete standstill both from tourism, as well as corporate travel. Online booking platforms are crashing too. Booking.com has recorded a 19% brand value loss to US$8.3 billion, simultaneously dropping 10 positions in the ranking from 32nd to 42nd. The story is similar for Airbnb as 30% of its brand value eroded to US$3.4 billion.
Expedia has dropped out of the ranking this year, following a 25% brand value decrease.
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Bet365 and DraftKings Voted ‘Fairest’ Sportsbooks in the United Kingdom and the United States Respectively
Inaugural FairPlay survey reveals that the vast majority of bettors do care about fair
FairPlay Sports Media (FPSM), the global sports media network fuelled by data and powered by fans, has announced the results of its inaugural FairPlay Fair Betting Survey with Bet365 in the United Kingdom and DraftKings and FanDuel in the United States shown to be the most trusted operators in their respected markets.
The digital survey of a thousand United Kingdom and United States bettors with varying levels of betting involvement was commissioned to quantify how much of a role ‘fairness’ plays in customers choosing and continuing with their chosen bookmakers and to explore in more detail what a fair betting experience looks like and how important it was to them.
The key takeaways from the FairPlay Fair Betting Survey 2024 are:
- When asked ‘of the sportsbooks you have accounts with, who is the fairest?’, 40% of the United Kingdom audience scored Bet365 the fairest with SkyBet second (16%) and Paddy Power third (12%). In the United States, 37% surveyed labelled DraftKings the fairest. FanDuel came second with 33% with both brands comfortably clear of competition.
- Bet365 performed the best on the top three factors that the United Kingdom audience labelled most important for a ‘fair experience’: ‘best odds’, ‘best odds guaranteed’ and ‘easy to use site/app’. Both DraftKings and FanDuel scored well on the two most important factors for the United States market: ‘best odds’ and ‘easy withdrawals’.
- ‘Fairness’ is deemed an important factor by the bettors surveyed with 87% of United Kingdom respondents claiming it to be ‘very important’ with 78% of the United States set stating the same.
- Perceptions of unfairness are relatively low in the United States with just 16% saying they’ve experienced unfair treatment, in contrast to over half in the United Kingdom survey (54%).
How customers regard fairness in the United Kingdom compared to the United States differs, with the former ranking ‘best odds’ as the number one factor that operators need to deliver to be perceived as fair, with the United States survey ranking it second behind ‘easy withdrawals’. Elsewhere in the top three, an ‘easy to use site/app’ came in third most important in both markets.
Bet365 scored highly in the factors that were most important to a fair experience in the United Kingdom, with second-placed SkyBet performing relatively better on less important features such as ‘transparent offers’, ‘wide array of offers’ and ‘easy withdrawal’. The two leading United States brands, DraftKings and FanDuel, followed similar response rates to the important factors of ‘best odds’ and ‘easy withdrawals’ with the latter potentially ranking higher due to the market’s nascent nature.
When asked ‘what does fairness mean to you?’, common themes to the open-ended question converged around ‘honour’ and ‘respect’ with a general sense that the bookmaker-customer relationship is not a level playing field in the United Kingdom market while the United States responses revolved more around being treated equally to other customers as well as more emphasis on better prices and transparency.
Significantly, the majority of United Kingdom bettors (87%) claimed it is ‘very important’ to be treated fairly by their bookmaker while the industry could clearly do more with 54% of them also claiming to have been treated ‘unfairly’ by operators at one point. Half of those who had experienced unfairness also stated that they would stop using a bookmaker because of it.
The United States audience demonstrated a similar sentiment with 78% seeing fair treatment as ‘very important’ but notably only 16% claimed to have experienced unfair treatment by an operator. Whether due to market maturity or the United States’ generally regarded higher standard of customer service requires further research.
The Group Chief Executive Officer for FairPlay Sports Media, Stuart Simms, said of the inaugural survey: “It’s fascinating to see how ‘fairness’ fits into the bettor’s psyche when choosing their operators. Many might not consider it as a key factor but it’s clear from these results that being treated fairly is extremely important for a strong bookmaker-customer relationship.
“It’s a hunch we had before the survey that those brands who were deemed ‘fairest’ might also be the leaders in their respective markets and I’d like to commend the likes of Bet365, FanDuel and DraftKings on performing well in this regard. It’s clear that the United States and United Kingdom markets have crossover when it comes to what ‘fairness’ means and, although the United Kingdom may be a more mature market, it could be said – based on these results – that to drive lifetime value and decrease churn, it could learn some more in customer service from across the pond.”
The FairPlay Fair Betting Survey 2024 was remotely collated from January 5, 2024, to February 6, 2024, using a sample of approximately 500 respondents of legal betting age in both the United Kingdom and from states where online sports betting is legal in the United States.
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Mindway AI, eCOGRA and CasinoReviews.net Launch Innovative ‘Bet on Awareness’ Campaign
In honor of Problem Gambling Awareness Month (PGAM), three industry-leading companies – Mindway AI, eCOGRA and CasinoReviews.net – have announced a transformative campaign aimed at fostering responsible gaming habits.
At the heart of this initiative lies Mindway AI’s pioneering tool, Gamalyze. Departing from traditional self-assessment methods, Gamalyze offers participants a unique and gamified experience through a three-minute immersive card game session. This innovative approach provides insights into gambling tendencies, promoting self-awareness and responsible gaming practices.
As the campaign unfolds, Mindway AI, eCOGRA and CasinoReviews.net will conduct a comprehensive study utilizing Gamalyze’s data. This study promises to offer unique insights into gambling habits and trends in 2024, shedding light on crucial aspects of player behavior.
Commenting on the collaboration, Rasmus Kjaergaard, the Chief Executive Officer for Mindway AI, expressed his enthusiasm, stating: “I am truly excited about the collaboration between Mindway AI, CasinoReviews.net and eCOGRA in championing responsible gambling during Problem Gambling Awareness Month.”
The Product Owner for CasinoReviews.net, Nikoleta Kuncheva, emphasized the campaign’s inclusive nature, inviting everyone to participate. “The ‘Bet on Awareness’ campaign isn’t just for those who gamble; it’s an eye-opener for everyone to discover just how risky their habits might be,” Kuncheva said.
The Chief Delivery Officer for eCOGRA, Douwe Bijkersma, highlighted the significance of Gamalyze in promoting responsible gaming within the industry, stating: “Gamalyze is an innovative tool that allows players to self-test their gambling behavior and risk profile, a revolutionary concept that we believe will benefit not only the players but the wider iGaming industry.”
The official launch of the Bet on Awareness campaign is set for later this month with participants invited to join through dedicated links across digital and social media platforms.
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BetSloty’s global expansion strategy in the online gambling industry: how does new online casino succeed?
In February 2024, Slotegrator, a leading software supplier and aggregator for online casino and sportsbook operators, announced its new deal with client BetSloty, an innovative online casino operator. Slotegrator offers a look at how the project came together and what’s driving its success.
BetSloty uses Slotegrator’s turnkey online casino solution, a technically robust platform with multiple modules and features to efficiently manage daily casino operations, prevent fraud, engage players, and more.
BetSloty comments: “Acquiring an online casino platform from Slotegrator allowed us to leverage their specialized expertise and experience. This decision was based on the efficiency, speed, and cost-effectiveness of utilizing a team with a proven track record in developing successful online gaming platforms.”
But what does the process look like when building an online casino from scratch?
In step one, it was important to consider three key areas: regulation, understanding of the target audience, and competitor analysis.
BetSloty casino welcomes players from all over the world, breaking down geographical barriers and ensuring a world-class gaming experience regardless of location.
Regulation. Understanding the paramount importance of regulatory compliance in the online gambling industry, BetSloty conducted thorough research to identify regions with stable regulatory environments conducive to their operations. Recognizing the significance of obtaining a license, they strategically partnered with legal experts to navigate the complexities of obtaining a Curaçao license, ensuring both legality and credibility. Betsloty engaged Slotegrator’s consulting and licensing services to swiftly obtain a license and used the platform’s groundbreaking features to develop their business strategy.
BetSloty remarks that obtaining a Curaçao license was a critical step. Slotegrator was chosen for its expertise in navigating the legal complexities of the gambling industry. Professional assistance is essential in legal matters to guarantee compliance with regulations and maintain players’ trust.
Demographics and demand. BetSloty’s market research revealed regions with a growing interest in online gambling and a large potential customer base. This informed their decision-making process in selecting markets for expansion, ensuring alignment with consumer preferences and trends.
Competitor analysis. In a highly competitive industry, BetSloty conducted in-depth competitor analysis to identify market gaps and opportunities for differentiation. Leveraging partnerships with aggregators like Slotegrator, they streamlined the process of integrating games and payment methods, offering a diverse portfolio to attract and retain players.At the business planning stage, BetSloty’s expansion strategy was underpinned by meticulous planning and execution. From market research to platform development and rigorous testing, every aspect of their business plan was carefully crafted to deliver a seamless user experience and ensure long-term success in new markets.
Innovation and adaptation are essential features of the evolving landscape of online transactions. That’s why BetSloty embraced cryptocurrency payments, enabling the platform to cater to the preferences of a global audience.
By integrating cryptocurrency transactions, they enhanced security, anonymity, and efficiency, aligning with their commitment to providing diverse and convenient payment options. They support payments in a range of both crypto and fiat currencies, allowing players to use Bitcoin, Ethereum, or traditional currencies for maximum flexibility.Trust and security are paramount to BetSloty Casino, so they employ encryption technology to safeguard player information and ensure fair play.
Furthermore, BetSloty Casino offers a diverse range of games on its platform, integrated through Slotegrator’s APIgrator game integration solution. These games include classic slots, live dealer tables, and everything in between, creating an engaging and immersive gaming experience. APIgrator takes the process of integrating games into an online casino platform to the next level.
BetSloty notes: “Cooperating with aggregators like Slotegrator streamlined the process of integrating games and payment methods. Their partnerships with leading game providers and payment solutions made it faster and more efficient for us to offer a diverse game portfolio and secure payment options. Our process involved careful selection of games based on popularity and quality.”
When marketing an online casino, it is important to consider promotion aspects such as:
- Affiliate marketing.
- Bonus policy.
- Loyalty and VIP programs.
- Tournaments
- Gamification
- Customer service.
BetSloty points out that their marketing strategy focuses on targeted digital campaigns, partnerships, and promotions; the online casino offers competitive bonuses, such as welcome bonuses, free spins, and loyalty rewards, to attract and retain players. The loyalty program incentivizes consistent engagement by providing exclusive perks and creating a rewarding experience for the valued players.
Artur Movchaniuk, Business Development Manager at Slotegrator, summarizes: “By prioritizing market research, regulatory adherence, and customer-centricity, BetSloty positioned themselves for sustainable growth and success in diverse international markets. The company’s global expansion journey underscores the importance of strategic planning, regulatory compliance, and innovation in the online gambling industry. The company has launched the online casino with a certain degree of perfectionism that will guarantee its success in the future and help to become a front-runner in the ever-evolving landscape of online gambling.”
ABOUT SLOTEGRATOR
Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.
The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.
The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.
Slotegrator also provides consulting services in gambling license acquisition and business incorporation.
More information: https://slotegrator.pro/
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