The Celebrity Brand Valuation Report by Kroll states that the M&E sector continues to be dominated by the television segment followed by the digital media and print segments. The digital media segment is expected to increase to 50% of total advertising in 2023, up from 48% in 2022.
Television
The market size of the television segment is expected to reach USD 9.5 bn in 2025 from USD 8.5 bn in 2022, growing at a CAGR of 3.9% over 2022-2025.
It is expected to contribute around 28.0% of total advertising (ad) revenues (USD 4.0 bn) in 2023 which is further expected to increase to
USD 4.4 bn by 2025, growing at a CAGR of 5.9% from 2023-2025.
Digital
The market size of the digital media segment is expected to reach USD 10.3 bn in 2025 from USD 6.8 bn in 2022, growing at a CAGR of 14.7% over 2022–2025.
The digital media segment is expected to become the largest segment with around 50% of the total ad revenue in 2023 and increase to USD 9.2 bn by 2025, growing at a CAGR of 13.5% from 2023-2025.
The market size of the print segment is expected to reach USD 3.3 bn in 2025 from USD 3.0 bn in 2022, growing at a CAGR of 3.7% over 2022-2025.
Print segment is expected to contribute around 15% of the total ad revenues in 2023 (USD 2.2 bn) and is expected to increase to USD 2.4 bn in 2025, growing at a CAGR of 4.5% from 2023-2025.
Current Celebrity Endorsements
Television Advertisements
As part of the analysis, Kroll found out that the television presence of the top 25 celebrity brands in India. These celebrities endorsed 311 product brands across 22 different industry segments during the 12 months ending November 2023.
The top three most advertised brands on television are Harpic endorsed by Akshay Kumar; Lux Soap endorsed by Anushka Sharma, Kareena Kapoor Khan and Virat
Kohli; and Veet endorsed by Sara Ali Khan.
Digital Advertisements
Kroll also analyzed the digital presence of India’s top 25 celebrity brands on more than 100 websites, including YouTube, Zee, Rediff, Yahoo, MSN and BBC. As
compared to advertisements on television, the digital advertisements space is expected to witness an explosive growth from USD 3.6 bn in 2022 to USD 6.1
bn in 2024, at a CAGR of 31.0%, while the share of television spends is expected to decrease to 34.0% by 2024 from the current 37.0%.
The top three most advertised brands on digital platforms are Pepsi endorsed by Ranveer Singh; Livspace endorsed by Anushka Sharma and Virat Kohli; and JioCinema endorsed by Alia Bhatt, MS Dhoni and Sachin Tendulkar.
Product Brand Endorsements by Top Celebrities
The cumulative number of product brand endorsements by the top 20 celebrities increased to 484 in 2023, reflecting an increase of 14.2% from 424 product brands in 2022. This growth can be attributed to the increase in number of TV and digital endorsements that grew by about 7% and 5%, respectively. Further, this represents a CAGR of 6.9% over the last five years growing from 370 product brands in 2019.
Brands, Business, Bollywood
The year 2023 has been a blockbuster one for our “Kings,” marking their stellar comeback. While King Kohli wowed the audiences with his brilliant on-field
performance, Shah Rukh Khan — the King of Bollywood — also shone with his box office hits leading laudable rise in number of brand endorsements for both.
Bollywood too made an impressive comeback in 2023; numerous hits such as “Jawan,” “Pathaan” and “Animal” crossed the USD 100 Mn mark helping Bollywood reinstate its dominance in the industry.
It has come back stronger than ever and continues to evolve — collaborations with South Indian cinema have helped produce even bigger hits.
The year 2023 also saw Indian celebrities’ continued participation as active investors of startups across industries — ranging from skincare to apparel.
Startups backed by celebrities are usually more successful than those that are not backed by celebrities. When a celebrity invests in a startup, it
proves to be a win-win for both the celebrity and startup — while the celebrity benefits from expansion in popularity and an additional source of
income, the startup benefits from the consumers’ reassured confidence in the brand.
Further, Indian celebrities also expanded their worldwide presence as the global brand ambassadors of reputable brands such as Gucci, Qatar Airways and Jimmy Choo, breaking the mold for success.