Celeb greetings app Cameo has embarked on a significant transformation by introducing a new product called CameoX. This move comes as the company, which initially became a pandemic hit as people marked special occasions with celebrity shout-outs, now faces new challenges in a post-pandemic world.

Unlock Creativity with CameoX

Background and Challenges

Cameo initially soared to success during the pandemic, becoming a tech unicorn valued at $1 billion. However, as life returned to normal, it faced multiple rounds of layoffs and saw its valuation decline. One of the main issues was its reliance on video messages and the inability to make other revenue-generating products stick, such as live video calls or events. It even dabbled in crypto with its NFT project, Cameo Pass.The struggle to attract A-list celebrities was just one part of the problem. Cameo needed to find a way to expand its reach and tap into new talent.

Embracing Lesser-Known Talents

With CameoX, Cameo is now embracing its status as a platform for lesser-known talents. Since May 2023, the company has been piloting the service, making it accessible to a broader creator community. Creators can now enroll themselves by filling out a form, downloading the app, and verifying their identity. This puts Cameo more in line with other creator-focused platforms like YouTube and Twitch.Over the past 18 months, CameoX has added 31,000 creators who have collectively performed over 155,000 Cameos, resulting in millions in bookings. These creators range from reality TV stars to influencers and even questionable characters like former Congressman George Santos. This shows that Cameo's strategy of targeting noteworthy individuals is paying off.

Boosting Revenue and Competing

By making Cameo less exclusive and more of a creator toolkit, the company hopes to boost its revenue. It earns a 30% share of bookings, and with more creators on board, there is potential for increased earnings. However, entering this space means competing with platforms that creators already use to monetize their fanbase, such as YouTube, Twitch, Instagram, and TikTok.Cameo CEO Steven Galanis believes that the nature of fame has changed. Digital native creators with engaged fan bases are becoming more successful, and there is a place for everyone on Cameo.To date, Cameo has generated over $310 million in talent earnings across over 8.2 million bookings, highlighting the potential of its new approach.