With a brand value of $181.7 million, actor Ranveer Singh has surpassed cricket star Virat Kohli to become the most valued Indian celebrity in 2022, according to the eighth edition of Kroll’s celebrity brand valuation study titled “Beyond the mainstream”. The overall brand value of the top 25 celebrities in 2022 is estimated at $1.6 billion, an increase of 29.1% from 2021. Kohli slipped to the second position with a brand value of $176.9 million while Akshay Kumar retained his third position with a brand value of $153.6 million.
Thanks to the roaring success of South Indian movies in recent years, actors Allu Arjun (20) and Rashmika Mandanna (25) made their way into the top 25 list for the first time, with brand values of $31.4 million and $25.3 million respectively. Olympic gold medalist Neeraj Chopra debuted in the list at the 23rd position with a brand value of $26.5 million. Actors Kiara Advani, Kartik Aaryan and Sara Ali Khan were other debutants on the top 25 list.
Singh became the most valued celebrity brand in India for the first time on the back of his mammoth endorsement portfolio, which is now the largest in the industry comprising more than 40 brands, and his widening global presence. After signing up with global sportswear brand Adidas and the National Basketball Association, he was roped in as brand ambassador of Yas Island in Abu Dhabi and as India’s ambassador for the Fifa World Cup 2022.
Kohli, who slipped to the second position this year, had topped the list for three successive years in 2019 (brand value of $237.5 million), 2020 ($237.7 million) and 2021 ($185.7 million).
The study ranked India’s celebrity brands based on their endorsement portfolios and social media presence. In the latest analysis, the share of Bollywood
Aviral Jain, managing director, valuation advisory services, Kroll, said that this year’s theme is driven by the rise of South Indian movie stars and sports celebrities. Kannada, Malayalam, Tamil and Telugu film industries posted a swashbuckling performance last year and even outperformed Bollywood in terms of both content and box office numbers.
“In 2021, almost half of the releases were driven by non-Bollywood cinema and I think they will continue to drive the business going forward. Now, Bollywood has to play catch-up. The increasing adoption of the regional stars, especially the South Indian stars who’ve become household names, is expected to continue, given the kind of traction they have achieved in the last two years,” says Jain.
Along with notable names from the Tollywood, India’s T20 captain Hardik Pandya also joined the list at 19th position with $34.8 million valuation.
The study also pointed out that in 2023, the influencer marketing space would become even more exciting. The trend of mass influencers going niche and niche influencers becoming more general will continue. Marketers are spending over 10% of their annual digital marketing budgets on influencers to tap into the regional reach offered by them. According to Jain, spending on influencers will continue to increase and in fact, two years from now, there may be talk of influencers making the top 25 list as well.