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How Cameo Generated $100 Million Last Year From Celebrity Shout-Out Videos
Todd Spangler, provided by
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Social media provides an unprecedented way for stars to connect with their fans — but only the upper echelons of celebrities have been able to convert their online presence into cold, hard cash.
Steven Galanis, co-founder and CEO of Cameo, says his company is part of a rising wave of direct-to-fan platforms that is changing that, by letting a much broader range of talent make money online. On the latest episode of
Variety‘s Strictly Business podcast, Galanis explains how Cameo built a booming business by selling bespoke video shout-outs recorded by its roster of tens of thousands of celebs.
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Chicago-headquartered video marketplace platform Cameo is looking back on a momentous 2020. Business boomed during the pandemic as more fans purchased personalized videos from their favorite pop-culture icons and celebrities.
According to a company blog post published Tuesday, Cameo sold 1.3 million videos during last year alone, producing approximately $100 million in gross merchandise value in 2020 and signifying a company growth rate of 4.5x year-over-year.
The startup also announced that its workforce will permanently remain remote. After hiring close to 100 new employees in 2020, Cameo projects more than half of its team will have never worked in the office by the end of Q1 this year.
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