Frankly, people should be entitled to own their likenesses.
Why? What does society gain right now from having celebrity endorsement, for example?
Celebrities already have certain established rights to the use of their likeness, and in this day and age those rights should really extend to everyone.
The reason that no one pays you the big bucks for an endorsement isn't that you don't have the same rights. You know that.
The law, in its majestic equality, forbids rich and poor alike to sleep under bridges, to beg in the streets, and to steal their bread.
Currently, these rights result from protections against defamation or fraud. This bill would turn one's likeness into intellectual property that can be bought and sold. It would guarantee the rich and famous an extra income stream without extra labor. Anyone down on their luck, who sells their likeness to make ends meet, would actually end up with fewer rights.
News media and maybe social media would probably be asked to pay up pretty quickly. This would likely remove some of the privileges allowing them to report gossip.
Other than that, it is likely to provide an additional tool for use against "piracy". Sharing movies and music is not just sharing copyrighted stuff, but also sharing someone's voices and likenesses.
Interestingly, this would also effectively prevent out-of-copyright film and audio to become public domain, since the likeness rights only expire when it can be proven that they were not used commercially for 2 years.