Social media influencers with more than five lakh followers or subscribers on a single platform could soon be officially classified as celebrities under a proposed framework released by the Securities and Exchange Board of India (SEBI), as per media reports.
In a consultation paper issued on Tuesday, the market regulator proposed a significant expansion of the definition of “celebrity”, extending it beyond film stars to include social media influencers, sportspersons, television personalities, reality show winners and even virtual human-like avatars.
Under the draft framework, a person or character will qualify as a celebrity if they satisfy any one of eight prescribed criteria, creating a comprehensive benchmark for determining who falls under celebrity endorsement regulations.
One of the most notable additions is the inclusion of social media influencers. Under the proposal, any influencer with more than five lakh followers or subscribers on a single social media handle, including platforms such as YouTube, Instagram, Facebook, X and other social media platforms, would be treated as a celebrity.
The second criterion includes actors who have played the lead role or one of the lead roles in mainstream or popular movies, television serials, television shows or web series on OTT platforms, reflecting the growing prominence of digital entertainment alongside traditional media.
SEBI has also proposed including sportspersons who have represented their country at the international level. This would cover members of national teams as well as athletes who have participated in events such as the Olympic Games, Asian Games, Commonwealth Games and other internationally competitive sporting events, including widely televised sports such as cricket and kabaddi.
Television personalities are also covered under the proposed framework. Individuals who have served as hosts or anchors of television programmes, including quiz shows, cooking programmes, news shows, comedy shows, dance competitions, singing contests and award functions for at least one season or a minimum of ten episodes would qualify as celebrities.
Another category covers individuals featured in the top 50 rankings of any celebrity index published by a nationally reputed publication, provided the ranking is publicly available and not more than a year old.
The proposal also recognises the emergence of virtual influencers and digital personalities. Human-like virtual avatars used for endorsements and promotional activities would also fall within the definition of a celebrity.
The expanded definition forms part of SEBI’s proposed Common Advertisement Code, which seeks to create uniform standards for advertisements and endorsements in the securities market.
The move comes at a time when social media creators, digital personalities and public figures increasingly influence consumer and investor decisions through online platforms. By broadening the celebrity definition, SEBI is seeking to bring a much larger pool of endorsers within its regulatory framework.
If implemented, the proposal could significantly alter how influencers, celebrities and public personalities participate in advertising and promotional campaigns linked to financial products and services.
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