Cameo CEO: We're going to 'give talent more tools'

Online video-sharing website Cameo is looking to enhance its services beyond allowing celebrities to send messages to fans.

Founded in 2016, Cameo became known for letting fans receive personalized video messages from stars like Brian Baumgartner of "The Office" fame or Sonja Morgan from "The Real Housewives of New York." Now, the Chicago-based platform is aiming to improve its fan-talent relationships with the launch of its 'Cameo 2.0' strategy that includes live video, merchandise, NFTs, and in-person events.

"We're starting to diversify and give talent more tools in their tool belt upon which to interact with fans that earn a living," Cameo CEO Steven Galanis told Yahoo Finance Live (video above).

Cameo's core business continues to be its celebrity messages, which gained traction during the pandemic when events were canceled. But the platform is undergoing a transformation to improve its fan-talent relationships.

"As we started taking a look at this shift towards experiences, we really felt that Cameo Live could be a great next thing to offer consumers," Galanis said. "So think of this as a 10-minute Zoom call, where you and 10 of your closest friends could have a live interaction with an artist or creator that you love."

In addition to Cameo Live, the Chicago-based platform started Cameo for Business and acquired a merchandise company called Represent. The company also found success in the first quarter when it launched Cameo Pass, an exclusive series of NFTs that allow buyers to gain entry to live events.

"That sold out in under one second," Galanis said about the initial Cameo Pass launch. "It was a huge success. We've now done four or five of these events. And the big idea is Cameo is a company that constantly throws really cool events around Super Bowl and Formula One [and] other big cultural events."

Galanis explained that Cameo is aiming to help "talent monetize in other ways," especially after massive growth during the pandemic.

"One of the nice things about COVID was people who had told us 'No' prior came on, gave us a shot when they were a little less busy," Galanis said, adding: "And the vast majority of them have retained as the world's opened up."

Still, the CEO acknowledged that consumer trends evolve and can affect customer retention.

"Now the big question for us is, as consumers have changed their spending habits and they're spending less time online, what are we doing to stay relevant?" Galanis said. "And that's what our team is thinking about every day."

Edwin is a producer for Yahoo Finance. You can follow him on Twitter @Edwin__Roman.

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