Brand value flickers for mid-tier celebs as influencers steal stage

A-list celebrities have not yet succumbed to the rise of influencers, as they continue to hold their own sway over audiences

The digital medium now claims nearly half of India’s total advertising spend, prompting brands to either replace mid-tier celebrities with influencers or collaborate with both to maximise return on investment (RoI) and engagement.

 

Brand valuations for mid-tier celebrities like Milind Soman, Vikrant Massey, Triptii Dimri, Sanya Malhotra, and Ishaan Khatter are expected to remain stagnant or grow modestly, at a rate of 2–5 per cent year-on-year (Y-o-Y), according to industry experts.

 

The trend follows brands pivoting from year-long contracts to project-based, performance-driven collaborations with influencers for better engagement.

 

“Over the past five years, India’s advertising mix has shifted sharply to digital, with influencer marketing capturing an increasing share of budgets,” said Bhavya Khurana, vice-president (V-P) of media at Digitas, an integrated marketing services brand within Publicis Groupe. “While fast-moving consumer goods, banking, financial services and insurance, and automobiles remain celebrity-driven, categories such as e-commerce, direct-to-consumer, gaming, and consumer technology are becoming influencer-first due to their content-heavy demands.” 

A-list celebrities, however, continue to hold sway. Top names like Shah Rukh Khan, Deepika Padukone, and sports stars such as Virat Kohli and M S Dhoni are expected to attract premium endorsements, with brand valuations projected to rise up to 12 per cent, industry experts observed.

 

Endorsement fees for A-list stars range from a high single crore to ₹7–8 crore per campaign. Mid-tier celebrities charge ₹1–3 crore per endorsement.

 

In contrast, nano-influencers with roughly 10,000 followers charge up to ₹2,000 per Instagram post; micro-influencers with up to 100,000 followers charge up to ₹50,000; macro-influencers with 500,000 followers charge up to ₹2 lakh; and mega-influencers with over 500,000 followers typically earn ₹2–10 lakh per post.

 

India’s influencer marketing sector is projected to reach ₹3,375 crore by 2026, growing at a compound annual growth rate of 18 per cent, according to EY. By comparison, India’s top 25 celebrities collectively had a brand value of $1.9 billion in 2023, according to Kroll.

 

Recently, Flipkart’s Big Billion Days campaign featured stars like Amitabh Bachchan and Alia Bhatt alongside influencers such as Jannat Zubair Rahmani, Sakshi Shivdasani, and Arista Mehta. “Brands are strategically opting for hybrid campaigns to maximise value in this evolving endorsement landscape,” said Umakanta Panigrahi, managing director of valuation advisory services at Kroll.

 

Top celebrities like Virat Kohli have 273 million followers, Alia Bhatt 86.5 million, and Ranveer Singh 47 million on Instagram. Influencers like CarryMinati have 21.2 million, Bhuvan Bam 20.7 million, and Prajakta Koli 8.8 million followers.

 

“Top celebrities will continue to dominate traditional media and secure high-value endorsements. Emerging celebrities may see a decline of 5–10 per cent, with influencers often filling that space due to higher engagement at lower costs,” said M S Divya, business director at ITW Universe.

 

For example, actor Akshay Kumar appears in advertisements daily, while cricketer Shubman Gill recently saw his brand endorsements soar past ₹130 crore, with a wide-ranging portfolio. Meanwhile, Ratnakar Bharti, V-P of media at Mudramax, noted that celebrity advertisements in the Indian Premier League 2025 dropped 13 per cent Y-o-Y, reflecting the shift towards influencer engagement.

 

“Many top stars are evolving from brand ambassadors to equity partners, increasing alignment and long-term value,” said Manish Solanki, chief operating officer and cofounder of The Small Big Idea.

 

Influencer content in ads tends to capture longer attention spans, with recommendations often perceived as more trustworthy than traditional advertising, according to a Kantar report.

 

India’s ad spend has decisively shifted to digital, which accounted for about 45 per cent of total advertising spend in 2024–25, up from 24 per cent in 2019–20, Bharti added.

 

Celebrity spotlight shifts

 

*  Top-tier celebs continue to command traditional media and high-value endorsements

 

*  Mid-tier stars face stagnating or modest growth as brands mix in influencers

 

*  Brands increasingly run blended campaigns to maximise RoI (Kroll)

 

*  FMCG, personal care, BFSI, and automotive remain star-driven

 

*  E-commerce, D2C, and gaming brands pivot to influencer-led campaigns

 

*  India’s influencer marketing projected at ₹3,375 crore by 2026 (EY)

 

*  Top 25 Indian celebs collectively worth $1.9 billion in 2023 (Kroll)