Olympic swimming superstar Michael Phelps has jumped from No. 1,111 to the No. 1 spot on the Davie-Brown Index in terms of endorsement appeal.
The astronomical jump on the index, which is compiled by Los Angeles-based talent agency Davie Brown Entertainment, came after his participation in the 2008 Beijing Olympic Games.
Yes, winning a record 8 gold medals and breaking 7 world records might have something to do with it.
After his Olympic saga, Michael Phelps is currently recognized by about 95% of U.S. consumers, up from 33% at the start of the 2008 Olympics.
The new fame of Michael Phelps pushed another sports legend, Michael Jordan, to No. 2. Hollywood movie star Tom Hanks came in 3rd in the latest index.
What's Driving This Trend
- Celebrity Endorsement
- With Michael Phelps' successful endorsement deals, more celebrities might take this path for additional revenue streams.
- Athlete Branding
- Athletes can harness their appeal to build their personal brands and strengthen their public image, which can lead to higher endorsement deals.
- Social Media Awareness
- Social media is a key tool for celebrities to interact with their fans and endorse products, and a solid social media presence can increase an athlete's value as an endorser.
Who This Affects Most
- Sports & Fitness Industry
- Athletes from various sports can now sign sponsorship deals, promoting fitness, training equipment, etc., and increase their endorsement revenue.
- Food Industry
- Endorsement by athletes like Michael Phelps can raise awareness for healthy eating habits and promote nutritional diets.
- Fashion Industry
- As fashion brands like Under Armour sponsor famous athletes, athletes' endorsements can increase awareness for sports and fashion collaborations, leading to co-branded products.
