Cameo, known for celebrity video shout-outs, is pivoting its platform to embrace creators with the launch of CameoX, a move aimed at revitalizing its business model.
Initially gaining popularity during the pandemic, Cameo became a $1 billion-valued unicorn, but it struggled post-pandemic with:
- Fewer A-list celebrities joining the platform.
- Limited success in expanding beyond video messages with live calls, events, and NFTs like Cameo Pass.
- Financial issues, including layoffs, a falling valuation, and inability to pay an FTC fine.
What’s New with CameoX
CameoX allows lesser-known creators to join the platform, broadening its reach:
- Creators can now self-enroll by filling out a form, downloading the app, and verifying their identity.
- Previously, Cameo vetted and rejected over 100,000 applicants who didn’t meet its high standards, focusing instead on curated talent.
Since its pilot in May 2023:
- 31,000 creators have joined.
- These creators have completed 155,000 Cameos, generating millions in bookings.
Target Audience
CameoX caters to:
- Reality TV stars
- Influencers
- Emerging creators
- Controversial figures like George Santos and Simon Leviev, continuing Cameo’s strategy of leveraging notoriety.
Revenue Model
Cameo takes a 30% cut from bookings. To date, it has generated:
- $310 million in talent earnings.
- 8.2 million bookings globally.
Cameo now competes directly with established platforms like YouTube, Twitch, Instagram, and TikTok, which already offer creators robust monetization tools.
Cameo CEO Steven Galanis emphasized the platform’s inclusivity:
“The nature of fame has changed dramatically…Whether you’re famous, infamous, or emerging, there is a place for you on Cameo.”
Performance
According to Appfigures:
- Cameo has seen 336,000 downloads in 2024.
- Generated $9 million in net revenue, with the U.S. dominating both metrics.
By embracing creators, Cameo aims to regain relevance and compete in the ever-expanding creator economy.
