Brand endorsements for Bollywood stars take a hit!

Slashing of star fees and non-renewal of contracts is the likely impact of recession in the advertising industry.

At a time when several recession-hit producers are keeping ambitious projects on hold, brand endorsements once the biggest source of income for stars too seems to have taken a hit. Not only is there a major cut in the endorsement fees, but also there is also little demand for renewals of existing contracts. Though the huge slump in the advertising budgets and a drastic cut in celebrity endorsements fees is inevitable, the situation may actually help advertisers convince stars to sign endorsement contracts at lesser fees over the next year, according to Prahlad Kakkar.

Source - http://www.screenindia.com