TikTok’s D’Amelios Launch Influencer-Focused Management Firm

TikTok celebrity family the D’Amelios are launching a management company aimed at fellow influencers.

The family is working with management firm Firebird, which has set aside $20 million for the D’Amelios and other online musicians, The Wall Street Journal (WSJ) reported Friday (June 9), citing sources familiar with the matter.

According to the report, Firebird will help the family launch their own management company — dubbed DamGood Mgmt — in which they have an ownership stake.

The D’Amelios — who have parlayed their popularity on TikTok into a reality show and brand partnerships — have more than 400 million social media followers and generate yearly income of $30 million, sources told the WSJ.

As the report notes, their management company is part of the rising creator economy, or businesses springing from the success of social media stars.

But as noted here in April, many of those creators haven’t profited from that system, with most 96% of the world’s 50 million creators earning relatively little, with the remainder taking in at least $100,000 per year, according to Goldman Sachs estimates cited in a Financial Times opinion piece by Leo Lewis.

Separate figures from Citi show that 90% of Substack revenues come from under 10% of writers, a ratio that also applies to Twitch and YouTube creators.

Though this is a plus for platform providers — as the idea of superstar creators taking in huge incomes continues to draw in more would-be creators — it’s another story for the creators themselves, Lewis wrote.

“While alternative revenue models may alter the creator economy again in the coming years, the game is nowhere near as democratic as it seems.”

Meanwhile, PYMNTS earlier this year examined how some brands are outsourcing to influencers in a more mindful strategy that doesn’t necessarily involve spending large amounts of money to land the moment’s most talked-about celebrity or influencer.

“In fact, many brands and retailers are turning to influencers, such as doctors and specialized experts, to help create relevancy and educate consumers,” that report said.

For example, a skincare brand may team up with a dermatologist to create content that highlights the importance of using sunscreen, or a meal kit delivery service may join forces with a nutritionist to craft wholesome and appetizing recipes.