Rise in popularity of sportspersons and South Indian film stars across the country to give tough competition to Bollywood in 2022 in terms of top 25 celebrities with respect to brand value, says a report by Kroll, a global risk and financial advisory solutions provider Is.
According to Kroll’s report, Bollywood celebrities accounted for 81.7 per cent of the total brand value for India’s top 20 celebrities in 2016, while the remaining 18.3 per cent were sportspersons. However, the share of Bollywood stars has come down to 67.6 per cent in 2022 and that of sports personalities has increased to 28.9 per cent. The remaining 3.5 per cent was held by Tollywood stars.
The country’s top five celebrities in terms of brand value in 2022 are Ranveer Singh ($181.7 million), Virat Kohli ($176.9 million), Akshay Kumar ($153.6 million), Alia Bhatt ($102.9 million) and Deepika Padukone ($82.9 million). dollars) are included.
The total brand value of the top 25 celebrities is estimated to be $1.6 billion in 2022, up 29.1 percent from 2021. The study provides a ranking of India’s most powerful celebrity brands based on their brand endorsement portfolio and brand values derived from their presence on social media.
Interestingly, the rise of South comes at a time when six of the top ten films in terms of collections came from the South Indian industry. The top four came from Kollywood and Tollywood. These include KGF-Chapter 2 ($153.5 million worldwide), RRR ($147.4 million), Ponniyin Selvan: The First Part ($58.9 million) and Vikram ($51.6 million).
Aviral Jain, Managing Director, Valuation Advisory Services, Kroll, says, “This has created a strong and favorable position for South Indian celebrities to increasingly become national faces for some of India’s leading brands. It appears that the content and story are driving the box office.’
South Indian stars Allu Arjun (KFC, RedBus, Coca Cola, Zomato), Ram Charan (Hero MotoCorp, Parle Agro), Rashmika Mandhana (Wakefit, Boat, Citibank, McDonald’s), Samantha Ruth Prabhu (MIVI, Dream11, Mama Earth) , Myntra, PhonePe) and Tamannaah Bhatia (Hindware, Sugar Cosmetics, Reebok, Volkswagen) lead in terms of celebrity brand value.
The expenditure on sports celebrity endorsement has also increased during this period. As per the report, Indian non-cricketers bagged 126 endorsement deals out of a total of 444 deals. In addition, sponsorship for emerging athletes increased by 79% during the 2021 Olympics, accounting for 13% of the total value of brand endorsements.
Apart from cricketers like Hardik Pandya, athletes like Neeraj Chopra and PV Sindhu who have dominated the international stage in sports like javelin and badminton respectively have gained immense popularity in a short span of time.
Digital media is growing at a fast pace in these segments. Digital media ranks second in the advertising market with approximately 36 percent ($4.1 billion) of total advertising revenue in 2022. It is expected to increase its contribution to $5.7 billion by 2024, growing at a compound annual growth rate of 17 percent.
On the other hand, the television segment is expected to grow from $4.5 billion in 2022 to $5.2 billion by 2024 and print from $2.1 billion to $2.2 billion.
