Great end of year for Lego
By Philippe Guinaudeau, CEO BrandTrends
Sometimes simplicity and tradition win out over the bells and whistles of our digital age. In our BrandTrends tracking service, Lego has taken the top spot globally and is officially the world's favorite entertainment brand.
The brand is up 2.4 points in 2019, which is the largest gain made by any brand during the year. Simultaneously, according to Brand Finance, Lego is now worth $7.57 billion and is also the most valuable toy brand in the world. As the favorite entertainment brand for kids, much of the increase in mentions comes from Europe (45%). However, Latin America and North America also continue to contribute significantly to the brand's growth. Check out the BrandTrends reports on this topic.
While the company is vision driven, as it hopes to encourage future problem solvers who can collaborate to build the world of the future*. However, while this culture is vital within the company, the growth is likely due to the big Lego movies from the top movie franchises and the rise in popularity of homemade Lego videos.
User-generated content is extremely valuable to Lego. The popularity of this content is enhanced by Lego Life online, which is a community for kids with over 6 million members. Yet many YouTube influencers use Lego sets to dominate user feeds. Therefore, while we can celebrate a toy we used to love as the world's number one, its success is due to the company's ability to respond to current digital trends.