Salman Khan's brand value dips as he loses relevance with millenials

Bollywood actor Salman Khan might have recently topped Forbes' India Celebrity 100 list for the second consecutive year in 2017 with earnings of Rs 232.83 crore backed by endorsements of several brands, but his brand value has come down. The 52-year old actor's earnings have dipped from a high of Rs 270.33 crore in 2016 and constituted 8.67% of the total earnings Rs 2,683 crore of the top 100 celebrities for the year. As per Duff & Phelps, the brand value of Salman Khan declined by approximately 33% in 2017 primarily due to a downward revision of the estimated endorsement fees. Once a star endorser for brands like Thums Up, Hero Honda bikes, etc, his endorsement kitty currently comprises more mass-appeal brands. This is a result of the surging millennial segment that most brands are targeting, with younger endorsers that connect better. "Salman is popular, but this is not translating into quality endorsements probably because of his chequered history. He is seen as temperamental and unpredictable, so brands shy away, states Sandeep Goyal, president, Mogae Media. "While he has extremely good PR with his clothing line Being Human, he is seen as a controversial star by brands. His NGO Being Human Foundation has been a catalyst to boosting his brand value.

Khan has brand appeal that cuts across geographies and demographics, but brand experts question his relevance going ahead. His brand fee is as high as Rs 4-5 crore a day, but younger stars are slowly catching on. Coca-Cola didn't renew its contract for Thums Up with Salman Khan for the first time since 2012 and signed on Ranveer Singh instead, who symbolises youth. Besides this, Khan was earlier replaced as brand endorser of Revital by former Indian skipper MS Dhoni. What works for Khan is that he reaches out to the hinterland easily, but his chink in armour is his relevance among urban audiences and millennials.

http://www.financialexpress.com/entertainment/salman-khans-brand-value-dips-as-he-loses-relevance-with-millenials/1032920/