Bollywood and sports Gen Z stars have been steadily stepping into the spotlight and bagging endorsements from brands on the back of factors including high social media engagement. Many of these stars saw their brand endorsement roster expand in 2023.
The latest Celebrity Valuation Report released by Kroll, earlier this month, noted that brands are increasingly hiring Gen Z stars to endorse their products due to their popularity with younger audiences, social media savviness, versatility and affordability. Some of them are bagging these endorsements even before their movie debuts.
“Gen Z, accounting for about 25 per cent of India’s population, is a segment which no marketeer can ignore today. It is emerging as a significant cultural force through their adept use of social media platforms. No wonder GenZ stars such as Sara Ali Khan, with 43 million followers, and Ananya Panday, boasting 35 million followers, are leading by example. Their versatility and bold approach make them sought-after in advertising campaigns. These dynamic Gen Z stars are set to continue their meteoric rise, promising a bright and influential future in the world of endorsements,” Aviral Jain, Managing Director, Valuation Advisory Services, Kroll told businessline.
Valued celebrities
Take for instance , Sara Ali Khan, who has been ranked among the top 25 most valued celebrities of 2023. Ranked at 23rd spot, her brand valuation is pegged at $27.9 million and was seen endorsing about 20 brands in 2023.
Kroll’s analysis revealed that Ananya Panday, who did a global partnership with Jimmy Choo, was seen endorsing 16 brands last year.Janhvi Kapoor endorsed 17 brands in 2023 up from 13 brands in 2022. Shubman Gill was also seen endorsing 17 brands last year up from 7 brands in 2022. Similarly, Shanaya Kapoor, Ishan Kishan and Tara Sutaria too saw a rise in the number of brand endorsements in 2023 over 2022.
Relevance
“There are certain brands and categories that are keen on bringing Gen Z stars as celebrity faces like fashion, e-commerce, athleisure, beverages/chocolates, packaged food among others. The primary factor that brands consider is their relevance and connection with their target audience and their reach and engagement on social media. The other critical factor is their future trajectory in terms of film and OTT projects,” Jayesh Kishanchandani, Business Head, Talent and Brand Partnerships, Yash Raj Films stated in Kroll’s Celebrity Brand Valuation Report 2023.