BIZ-CELEBRITY-BRAND VALUE (CORRECTED(
- Country:
- India
Indian cricket skipper Virat
Kohli has topped the list of the most valuable celebrity brand
in the country for the second year in a row, with an 18 per
cent increase in his brand value at USD 170.9 million in 2018,
according to a report.
The cricketer endorsed 24 brands as of November 2018,
the global valuation and corporate finance advisors
Duff & Phelps said in its fourth edition of the report on
India's most valuable celebrity brands on Thursday.
He is followed by Bollywood actress Deepika Padukone,
who jumped a place higher from the last ranking, with a
valuation of USD 102.5 million. She endorsed 21 brands as of
Novemebr 2018.
The top two are the only celebrities with a valuation
of over USD 100 million. The total value of the top 20
celebrity brands stands at USD 877 million, with the top 10
contributing more than 75 per cent of the total value.
Endorsers such as Virat Kohli and Deepika
Padukone have been structuring endorsement deals with
an equity element, which in turns helps them maintain a
long-term association with the brand and share the upside
from the performance of the company, it said.
"The celebrity endorsement market in India has matured
from vanilla endorsement deals to full-fledged partnerships
through innovative routes such as equity deals and strategic
partnerships... Millennial celebrities continue to be the
first choice for brand endorsements as companies want to have
a greater focus on the youth segment fuelled by demand in
sectors such as e-commerce, retail, FMCG and smartphones,
among others," Duff & Phelps managing director and
Asia Pacific leader for valuation services Varun Gupta said.
Bollywood actors Akshay Kumar and Ranveer Singh too
improved their rankings by a place, to occupy the third and
fourth position with a valuation of USD 67.3 million and USD
63 million, respectively.
Actor Shah Rukh Khan slipped to the fifth place from
the second position, with a valuation of USD 60.7 million.
"While Bollywood celebrities dominate the rankings of
the top 20 celebrities, sportspersons provide tough
competition. Virat Kohli, Sachin Tendulkar, MS Dhoni and PV
Sindhu collectively contributed almost USD 241 million, which
is over 27 per cent of the cumulative brand value of the top
20 celebrities pegged at USD 877 million," Duff & Phelps
managing director Aviral Jain said.
As per ESP Properties data, over the past decade
celebrity-led endorsements increased in number
from 650 in 2007 to 1,660 in 2017, representing a steady CAGR
of 10 per cent. Further, TV ad spends with celebrity endorsers
rose from Rs 1550 crore in 2007 to Rs 6660 crore in 2017 at a
CAGR of 16.1 per cent.
TV ads with celebrity endorsers represented close to
24 per cent of the total TV ad spends in 2017, which
represents a 5 per cent uptick from 2007.
The report noted the rising trend of power couples, as
brands can target each partner's unique following and voice
by tapping into a power couple's reach and impact.
"The coming together of a power couple creates a
larger platform that brands want to leverage to target the
youth. This year, power couple Virat Kohli and Anushka Sharma
have endorsed around 40 brands together such as Head and
Shoulders, Manyavar, Pepsi, Celkon, Boost, Audi, Fastrack,
Goinee, Wrogn and Polaroid," it said.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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