Byju’s is a popular teaching online application followed by millions. The brand ambassador of the app is none other than Shah Rukh Khan. Referring to the recent course of events, Byju’s has discontinued its association with SRK by hitting the pause button on all ads featuring him.
As per the latest updates, the editech company has now decided to pull all ads featuring SRK despite advance bookings. The above decision was taken after they had to face a complete backlash on social media platforms like Twitter, Facebook and LinkedIn.
Not only Byju’s, Shah Rukh Khan is the brand ambassador of a number of well known brands like Reliance Jio, LG, Hyundai, ICICI Bank, Dubai Tourism and more.
But Byju’s happens to be the largest sponsor company for the actor. The reports says that SRK has an annual deal up to a whopping Rs 3-4 crore with the company.
In the recent past, Byju’s had launched a new ad campaign with the actor. But now, they have discontinued all ads featuring him. It’s still not clear if they have completely dropped him as their brand ambassador.
Earlier, Byju’s had also panned ads for IPL matches. Since IPL matches are already going on, it’s quite tricky for them to take a decision to pull out of IPL promotions.
If you look in terms of the benefit that Byju’s has got with SRK, it’s huge.
Also, the association of Byju’s with SRK has gone much ahead in the recent years. Looking all these aspects, it doesn’t look like the company would ever be able to completely delink itself from him.
Currently, Byju’s happens to be the most trusted player in the education sector having a valuation of around $18 billion.
In terms of sponsorships, SRK was also ranked 4th in Duff & Phelps’ celebrity brand having a valuation of $51.1 million.