In these Covid19 times, brand who normally shell out crores to sign celebrities are expecting celebs to drop fees by 20-30%. Be it the Indian captain Virat Kohli, Rohit Sharma or any of their teammates, or any bollywood celeb, brands are expecting endorsers to drop fees by 20-30% in these tough times. But the heartening finding for the cricketers from the survey is that despite of uncertainty surrounding Indian Premier League 2020 (IPL 2020) season, cricketers still stay favorite as endorsers for the brands according to the survey report.
Indian Institute of Human Brands’ Celebrity Compensation Report
According to the Indian Institute of Human Brands’ Celebrity Compensation Report, brands are expecting endorsers to drop their fees by 20-30%.
– Overall, 64% of advertisers surveyed said that celebrity endorsement fee should reduce in light of the Covid-19 pandemic.
– Of the advertisers that felt that the endorsement fee should head southward, 22% said leading celebrities such as Virat Kohli, Akshay Kumar, Deepika Padukone, Ranveer Singh, Ranbir Kapoor and Alia Bhatt should take a 20-30% pay cut.
– Only 4% of brands surveyed went as far as to say that celebrity endorsement fee should come down by 50% o rmore.
The advertisers who polled also want cricketers Mahendra Singh Dhoni, Rohit Sharma to drop their fees by 20-30%
IPL 2020 or no IPL Tournament this year, brands still keen on cricketers
It is worth noting that more than 50% of brands are still keen on cricketers as brand endorsers even if the Indian Premier League does not take place this year.
Despite the sluggish economy, 55% marketers said they would continue to hire a celebrity ambassador.
The survey that also measured celebrity performance during the lock- down found that Sonu Sood’s humanitarian work made him the most popular choice among corporates and consumers. Akshay Kumar who donated 25 crore to the PM Cares fund was ranked second in the list after Sood.