Virat Kohli at $238 million retains top celebrity endorser spot even as overall industry takes hit

2021-02-04 15:24:50

NEW DELHI: Indian cricket team captain, Virat Kohli retained his spot as the most valuable celebrity in India for the fourth consecutive year, showed a report.
Kohli, valued at $238 million in 2020, is followed by Bollywood celebs Akshay Kumar and Ranveer Singh at $119 million and $103 million respectively.
With more than 30 brands in his kitty, the Indian skipper continued to remain a favorite with brands across industries and topped social media rankings, along with having the best engagement rate among all domestic celebrities.

Former Indian captain, MS Dhoni too enjoyed considerable success as a brand endorser, thanks to his participation in the Indian Premier League. While his rank slipped two slots to 11, Dhoni’s brand value was pegged at around $36 million, ahead of several B-town heavyweights, such as, Aamir Khan, Ranbir Kapoor and Priyanka Chopra.
“Dhoni has acquired the status of a legend, similar to somebody like a Sachin Tendulkar,” said Aviral Jain, MD at Duff & Phelps, a New York-based financial consultancy company that published its sixth report on the Indian celebrity brand valuation space.
“Even young cricketers, too, such as Rishab Pant and others have started getting endorsements after Team India’s performance in Australia. But sustaining the momentum will depend on consistency,” he added.
Despite the good run enjoyed by Kohli and a few other celebrities, the overall value of brand endorsements declined in 2020 due to the pandemic, the report said, as companies restructured their budgets. And it may dip further by 15% to 20%.
The cumulative number of product brand endorsements by the top 20 celebrities, for instance, grew annually at around 16% from 235 in 2016 to 370 in 2019. The number, however, dropped from 370 in 2019 to 357 in 2020 due to lockdown restrictions.
The total brand value, too, of the top 20 celebrities in India pegged at $1 billion witnessed a de-growth of around 5% in 2020 compared to last year.

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