Celebrity greetings app Cameo is pivoting to creators with a new product called CameoX.
The company was hit hard by the pandemic as people were stuck at home and celebrated birthdays, graduations and other celebrations with celebrity shoutouts. It became a tech unicorn with a $1 billion valuation, but as life returned to normal, Cameo suffered multiple layoffs, additional funding depleted its valuation, and an FTC fine for undisclosed celebrity endorsements. turned out to be unable to pay. .
Cameo's struggle to attract A-list celebrities was only part of the problem. Its business model relies on video messaging and has failed to anchor other potentially revenue-generating products, such as live video calls and live events. At one point, he even dabbled in cryptocurrencies with his NFT project, Cameo Pass.
With CameoX, Cameo is establishing itself as a place where lesser-known talent can expand their horizons.
The company says it has been piloting CameoX since May 2023, making the service accessible to a broader community of creators. Previously, Cameo tried to avoid being perceived as a “D-List” app by being selective and vetting the people who could use its platform. The company noted that over the past three years, it has rejected more than 100,000 applications from candidates who did not meet the criteria requirements.
Creators can now register via CameoX by filling out a form, downloading an app, and verifying their identity. The company says this brings the app more in line with other creator-focused apps like YouTube and Twitch.
In the past 18 months, CameoX has added 31,000 creators who have collectively performed more than 155,000 Cameos, resulting in millions of bookings, the company claims. CameoX creators range from reality TV stars to influencers, creators, and even shady figures like former Congressman George Santos. (The latter represents a continuation of Cameo's strategy of targeting notable figures, even if they're famous for reasons of notoriety. Cameo's controversial partnership with Tinder Swindler, aka Simon Leviev) (The subject of Netflix's document on dating apps) scams. )
By making Cameo less exclusive and more of a creator toolkit, the company aims to increase its revenue, which comes in part from its 30% booking share. But entering this space means having to compete with platforms that creators already use to monetize their fan bases, such as YouTube, Twitch, Instagram, and TikTok. .
“The nature of fame has changed dramatically. Some of our most successful people are digitally native creators who aren't famous in the traditional sense but have very loyal fan bases.” , Cameo CEO Steven Galanis said in a blog post announcing the service's official launch. “New stars are being born overnight on platforms like Instagram, TikTok, Twitch, SoundCloud, and YouTube, and global fame is growing exponentially. But there is a place for you in cameos,” he added.
Cameo says it has generated more than $310 million in talent revenue through more than 8.2 million bookings to date.