Virat Kohli tops celebrity brand valuation study for fourth consecutive year

The captain of the Indian cricket team, Virat Kohli has been ranked the most valuable celebrity for the fourth year on the bounce. Kohli's brand valuation remained at $237.7 million despite the COVID-19 pandemic, according to the Celebrity Brand Valuation Study 2020 released by Duff & Phelps. 

While the top 10 list is dominated by Bollywood stars, Kohli remains atop the standings and clear of others in the list. 

Managing director of Duff & Phelps said that while established celebrities continue to dominate the rankings, millennials with massive social media presence have left a mark in the rankings. 

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“While established celebrities continue to dominate our rankings, notable millennials with a strong social media presence continue to climb the ladder. Ayushmann Khurrana, Tiger Shroff and Rohit Sharma all jumped a few spots to grab the No. 6, No. 15 and No. 17 spots, respectively. Further, Kartik Aaryan debuts on our list at No. 20. These rising millennial celebrities were in greater demand during the pandemic owing to their popularity among the youth,” said Aviral Jain, Managing Director, Duff & Phelps. 

Duff & Phelps conducted a recent survey and released key findings from the sixth edition of its Celebrity Brand Valuation Study 2020: “Embracing the New Normal.”  

The report ranks India's most powerful celebrity brands based on brand value. It is taken from endorsement portfolio and social media presence. With the year 2020 hit by COVID-19, the study examined the impact of the pandemic on both brand value rankings and endorsement space. 

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According to the study, there is a reduction in marketing and advertising budget due to the pandemic. The lockdown also impacted the endorsement done by the top 20 celebrities in the year 2020. The number of endorsements declined by a noteworthy 3.5 per cent to 357 in 2020. “Overall the brand value of the top 20 celebrities in 2020 saw a dip by about 5 per cent compared to 2020 due to pandemic and stood at about $1 billion,” the Duff & Phelps study pointed out. 

The film industry was hit the hardest during the pandemic but for the sporting world, the Indian Premier League (IPL) was a major event that ensured the rise of sports celebrities, according to the report.