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Axios Re:Cap

Cameo CEO on the business of fame

Axios Re:Cap

Axios

Daily News, News

4.5705 Ratings

🗓️ 29 September 2020

⏱️ 12 minutes

🧾️ Download transcript

Summary

Cameo, a marketplace in which users pay for personalized video messages from celebrities, has gone from niche novelty to very big business. One celebrity just surpassed $1 million in earnings, and more than 5,000 messages are sold each day. Dan and Cameo CEO Steven Galanis dig into how the company came to be and how it's changing the monetization of fame. Plus: A "cameo" from one of the site's top stars and debate night analysis with Axios White House and politics editor Margaret Talev.

Transcript

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0:00.0

Hi, I'm Dan Pramak and welcome to Axios Recap, presented by Bridge Bank.

0:07.5

Today is Tuesday, September 29.

0:10.5

U.S. consumer confidence is up, oil prices are down, and we're focused on the business of fame.

0:21.4

In the early days of the pandemic, my nine-year-old began binge watching the old Nickelodeon

0:26.9

show I Carly.

0:28.4

And trying to find a way to lift her spirits a bit, I decided to get her a personalized video

0:33.3

message from one of the show's stars through Cameo, a company that basically serves as kind of

0:39.0

a fan interaction marketplace for celebrities, from A-List through Z-List.

0:44.7

Here's how it works.

0:45.6

You pick the celeb you want, tell them who the message is for and why, and then pay them

0:50.3

a rate of their choosing, anywhere from a few bucks to a couple hundred dollars. Within

0:55.2

a day or so, that video gets sent to your phone. My daughter, of course, loved it. So I decided

1:01.1

to order one more this past weekend.

1:03.5

Hi, this is Gilbert Gottfried, and it's so exciting to be on Axios Recap.

1:11.4

Now look, I was asked to say why I joined Cameo.

1:15.8

Well, that's easy.

1:17.2

That's an easy one.

1:18.9

Because Cameo has a high amount of zinc.

1:24.3

And my doctor told me I had a zinc deficiency. And so that's why I'm on Cameo.

1:33.3

Cameo may sound like novelty, but it's become big business. It's backed by some of the top

1:39.1

names of venture capital and one of its celebrity users recently surpassed the $1 million earnings mark.

1:46.0

So we want to dig into what might prove to be the next evolution of platforms like

...

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