Based on my experience in the space, I can say with some confidence that there is very low brand or reputational risk (or it is so low as to be immaterial) with regards to a breach. $1M-$3M in most cases, which is cost of business (notification campaigns, buying credit monitoring, etc).

Edit: Your examples are outliers, based on the data, and those costs are not brand and reputational, they are settlements or fines (which are rare). If you want to move goal posts, that's a choice. No one is going to stop using Equifax for consumer reporting data or Target because of their cybersecurity posture (ie brand and reputation damage).

https://www.ibm.com/reports/data-breach

https://www.vox.com/the-goods/23031858/data-breach-data-loss...

https://www.idtheftcenter.org/post/itrc-sees-third-most-data...

Wrong.

Heartland Payment Systems - Although the company did not go out of business, it suffered significant financial losses from a major breach in 2008, leading to over $110 million in settlements and fines. This incident severely damaged its reputation and operational capacity.

Target - The retail giant faced a massive data breach in 2013, which compromised approximately 40 million credit and debit card accounts. While Target did not go out of business, the breach led to substantial financial losses, including a $18.5 million settlement with state attorneys general.

Equifax - The credit reporting agency experienced a breach in 2017 that exposed sensitive information of about 147 million people. Although Equifax remains operational, the breach resulted in over $700 million in settlements and significant reputational damage.

MySpace - While MySpace did not directly go out of business due to its data breach in 2016 (which affected 360 million accounts), it lost significant market share and relevance, ultimately leading to its decline as a social media platform.

FriendFinder Networks - This adult entertainment company faced a severe breach in 2016, affecting 412 million accounts. While it has not officially declared bankruptcy, the breach contributed to its ongoing struggles in a competitive market.

Ashley Madison - The dating site for extramarital affairs suffered a data breach in 2015 that exposed the personal information of millions of users. The fallout from this breach led to lawsuits and significant reputational damage, severely impacting its business operations.

NortonLifeLock (formerly Symantec) - Following a series of breaches and security issues, the company faced declining revenues and market share, leading to a significant restructuring and changes in business focus.

> Target - The retail giant faced a massive data breach in 2013, which compromised approximately 40 million credit and debit card accounts. While Target did not go out of business, the breach led to substantial financial losses, including a $18.5 million settlement with state attorneys general.

A $18.5m fine for a company with around $25b in quarterly revenue.

> Equifax - The credit reporting agency experienced a breach in 2017 that exposed sensitive information of about 147 million people. Although Equifax remains operational, the breach resulted in over $700 million in settlements and significant reputational damage.

Yeah, take a look at Equifax's financials. It has done nothing but go from strength to strength since 2017, and the financial impact of that incident is nothing more than a speed bump.

Equifax has more than doubled its market cap, grown its revenue by over 60% and has remained extremely profitable at all times since then.

Anyone who bought Equifax stock in late 2017 has done very well.