Duff & Phelps, the world’s premier provider of governance, risk, and transparency solutions, today (February 4, 2021) released key findings from the sixth edition of its Celebrity Brand Valuation Study 2020: “Embracing the New Normal.”
The study provides a ranking of India’s most valued celebrity brands based on brand values derived from their product endorsement portfolio and relative social media presence. It examines the impact of the pandemic on both brand value rankings and the celebrity endorsement space.
Virat Kohli retains the top position for the fourth consecutive year. His brand value remains steady at $237.7 million (mn) in 2020 despite the COVID-19 pandemic. Akshay Kumar retains the second position with a brand value of $118.9 mn (a jump of 13.8%). Bollywood powerhouse Ranveer Singh grabs the third position again, with a brand value of $102.9 mn. The overall brand value of the top 20 celebrities in 2020 is estimated at $1 billion (bn), a dip of approximately 5% from last year.
“While established celebrities continue to dominate our rankings, notable millennials with a strong social media presence continue to climb the ladder. Ayushmann Khurrana, Tiger Shroff, and Rohit Sharma all jumped a few spots to grab the No. 6, No. 15, and No. 17 spots, respectively. Further, Kartik Aaryan debuts on our list at No. 20. These rising millennial celebrities were in greater demand during the pandemic owing to their popularity among the youth,” said Aviral Jain, Managing Director, Duff & Phelps.
“This year, the media and entertainment (“M&E”) sector took a hit and witnessed a significant slowdown in advertising spends as traditional media and outdoor entertainment were severely impacted by the pandemic. Digital marginally overtook print to become the second-largest segment in the advertisement space, and it continues to witness traction among brands. The pandemic has also reinforced the fact that a strong social media presence is no longer a ‘good to have,’ but rather a ‘must-have’ for celebrity endorsers. With celebrity-brand engagements becoming more digitally oriented, brands and celebrity endorsers are discussing innovative ways of collaboration,” Jain added.
Commenting on how the pandemic redefined the M&E sector, Varun Gupta, Managing Director and Asia Pacific Leader for Valuation Services at Duff & Phelps, said, “2020 saw a boost in digital advertising, with celebrities leveraging their authentic and personal experiences for endorsements. In fact, many OTT stars and influencers are currently sharing the spotlight for digital ads, which is a new trend observed this year.”