Most valuable media brands worldwide 2018

The source provided the following information about the methodology: "We started with a universe of more than 200 global brands. We required brands to have more than a token presence in the U.S., which eliminated some big brands like multinational telecom firm Vodafone and Chinese e-commerce giant Alibaba . Our first step in valuing the brands was to determine revenue and earnings before interest and taxes for each brand. We gathered these from company reports, Wall Street research and industry experts. A tip of the cap to Euromonitor, who provided retail sales figures for certain product brands. Forbes averaged earnings before interest and taxes (EBIT) over the past three years and subtracted from earnings a charge of 8% of the brand’s capital employed, figuring a generic brand should be able to earn at least 8% on this capital. Forbes applied the maximum corporate tax rate in the parent company’s home country to that net earnings figure. Next, we allocated a percentage of those earnings to the brand based on the role brands play in each industry. (Brands are crucial when it comes to beverages and luxury goods, but less so with airlines, when price and convenience are more important.) To this net brand earnings number, we applied the average price-to-earnings multiple over the past three years to arrive at the final brand value. For privately held outfits we applied an earnings multiple for a comparable public company. Brands are all in U.S. dollars and converted at April 25 exchange rates."