Ranveer Singh pips Virat Kohli as most valued celebrity in 2022-Business Journal

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New Delhi: Bollywood actor Ranveer Singh has develop into the most valued celebrity for endorsements in 2022, changing Indian batter Virat Kohli, in keeping with a brand new ‘Celebrity Brand Valuation’ report by company investigation and threat consulting agency, Kroll.

Singh’s worth has gone as much as $181.7 million, in comparison with former Indian skipper’s $179.6 million. Kohli’s model worth has seen a decline for 2 consecutive years, particularly after he left the captaincy of the lads’s cricket group. He was valued at $237.7 million in 2020 and noticed a steep fall of 21% in 2021 at $185.7 million.

In absolute phrases, celebrity model valuations accounted for $1.6 billion in 2022 as in comparison with $1.4 billion in 2021.

Aviral Jain, managing director of the valuation advisory providers at Kroll, stated whereas Singh had fewer films final yr, and that Bollywood has additionally not been doing very nicely general, Singh has spent loads of time in promoting. Today he has about 40 manufacturers which he endorses together with some worldwide names like NBA, Yas Island in Abu Dhabi and others. Recently, he was additionally roped in by PepsiCo as its model ambassador.

“We saw a good fit with ‘Brand Ranveer Singh’ at a very early stage of his career and brought him on board for Ciaz, our premium sedan in 2014. It helped us establish the brand in the market making it a bestseller. As Ranveer has cemented his position as one of India’s top celebrities, his partnership for our brand Nexa has helped us retain and gain new customers, contributing to over 20% of the company’s sales,” stated Shashank Srivastava, senior govt officer, advertising and gross sales, Maruti Suzuki India Ltd.

Actors Akshay Kumar and Alia Bhatt retained their third and fourth spots on this yr’s record, at $153.6 million and $102.9 million, respectively, whereas Deepika Padukone moved up a few ranks — from quantity 7 to quantity 5 — this time, valued at $82.9 million. However, for the reason that report was compiled, Padukone has additionally develop into the model ambassador of Qatar Airways and PotteryBarn.

As far as Kohli is worried, his efficiency on the sector may have additionally affected his endorsements. While he has had some good knocks in direction of the tip of 2022, his endorsements have plateaued. The relevant endorsement charge has additionally been lowered in the final yr, stated Jain.

“There is a better threat related to the model Kohli now and that has had some detrimental influence. His worth has been set again by about 5%,” he stated. Numerous his newer campaigns are together with Anushka Sharma, his spouse and this might be the place his model picture modifications to include extra of his non-cricketing facet reasonably than simply his efficiency on the sector.

Olympic gold medallist Neeraj Chopra made it to the highest 25 record, however in direction of the tip at spot 23 at $26.5 million in model worth. He tied with PV Sindhu.

Karthik Srinivasan, a communications technique guide, identified that the record displays that there are solely six sports activities stars in the highest 25 most sought-after celebrities, of which 4 are cricketers. “This is regardless of the type of efficiency India displayed in the Olympics and non-cricket sports activities in current occasions. Also, not one of the feminine cricketers made it to the highest. We maybe want to offer the Women’s Premier League extra time to sink in,” he said.

Srinivasan said that India should go beyond cricket. For instance, the biggest celebrities in the US are all associated with music. And in India, it is clear that there is not a single music-related celebrity in the top 25 list. He said a lot of the top celebrities are exclusive TV and streaming stars, but despite the popularity of television, and to some extent, streaming, in India, there are no top or leading celebrities from the small screen on this list.

On the list are also two south Indian stars, Allu Arjun and Rashmika Mandhana, both of whom are new entrants on the list. The report added that since 2016, Bollywood has reduced in importance in terms of the valuation split. That year, Bollywood actors constituted 81.7% of the overall brand value for India’s top 20 celebrities, while the remaining 18.3% was comprised of sports stars. However, in its current analysis, the share of Bollywood stars has fallen to 67.6% in the overall brand value, with 28.9% comprising sports celebrities, and the remaining 3.5% belonging to Tollywood stars.

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