Virat Kohli may be having an indifferent men’s T20 World Cup — so far — but the former Indian captain’s stellar performance in the 2023 ICC Cricket World Cup has once again made him the most bankable celebrity in India.
Kohli, who lost to actor Ranveer Singh in 2022, is back to lord over the top 25 celebrity brands list. His strong performance in the 2023 World Cup translated into his brand value growing to $227.9 million, up from $176.9 million in 2022, Kroll's Celebrity Brand Valuation Report 2023, released on June 18, said.
"Among sporting celebrities, Virat Kohli witnessed a 30 percent rise in his brand value in 2023, led by his remarkable record-breaking performances on the field and expanding endorsement portfolio with over 40 brands," Aviral Jain, managing director, valuation advisory services, Kroll, told Moneycontrol.
Kohli scored a record 700 runs, the most by a batsman in a single World Cup edition, in the marquee tournament, earning him the coveted “player of the tournament title”.
The contribution of sports celebrities to the overall brand value of the top 25 has remained in the range of 28-29 percent over the last two years.
"Brand values of Mahendra Singh Dhoni and Sachin Tendulkar continue to increase steadily at a rate of 20-25 percent in 2023," Jain said.
While Dhoni's ranking fell from six to seven in 2023, with a brand value of $95.8 million, Tendulkar's spot remained stable at eight with $91.3 million, the report said.
"According to our analysis, sports stars constituted 26 percent of the overall number of brand endorsements of India’s top 25 celebrities in 2023, which is similar to 2022. This has a potential to increase given the upcoming Paris Olympics," Jain said.
Sports stars stood their ground in 2023 but Bollywood gained with a blockbuster performance with movies such as Jawan and Pathaan, with box office collections of more than $100 million each.
Last year also witnessed a remarkable comeback with a blend of nostalgic hits like Gadar 2 starring Sunny Deol, OMG 2 featuring Akshay Kumar and Salman Khan-starrer Tiger 3. This resurgence was fuelled by a mix of established stars and highly anticipated sequels, creating a dynamic cinematic landscape.
While Kohli is in the lead, the remaining four slots among the top 5 have been taken by Bollywood actors, with Ranveer Singh ranked second at $203.1 million, up from $181.7 million in 2022. Shah Rukh Khan ranks third with a brand value of $120.7 million. Akshay Kumar and Alia Bhatt take the fourth and the fifth ranks with brand values of $111.7 million and 101.1 million, respectively.
The overall brand value of the top 25 celebrities in 2023 is estimated at $1.9 billion, up 15.5 percent from the previous year.
The cumulative number of product brand endorsements by the top 20 celebrities increased to 484, up 14.2 percent from 424 in 2022. The growth can be attributed to the increase in TV and digital endorsements which grew by about 7 percent and 5 percent, respectively.
It also represents a compound annual growth rate (CAGR) of 6.9 percent over the last five years, growing from 370 brands in 2019.
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