The $975 million agreement provides the Nasdaq-traded finance firm with sole worldwide rights to Khaby Lame’s persona for a period of three years, elevating him from an “internet personality” to a “creator supported by equity,” the firm communicated in a press release. Lame boasts 160 million followers on TikTok, in contrast to Charli D’Amelio, the platform’s second most followed individual, with 156 million.
Lame, who gained recognition through his wordless videos that demystify common life tips, has gathered a worldwide following of 360 million individuals across TikTok and Instagram, according to the release. The monetization of his audience is forecasted to produce in excess of $4 billion in yearly revenue.
The arrangement encompasses a partial divestiture of Khaby Lame’s entity, Step Distinctive Ltd., to Rich Sparkle, situated in Hong Kong, with intentions to broaden the 25-year-old Italian-Senegalese creative’s sway through collaborations with brands and co-developed items in cosmetics, perfumes, and attire. It will further generate an AI counterpart of Khaby Lame that will employ his countenance, vocal tonality, and actions to fashion multilingual content across social platforms.
Before securing the deal with Khaby Lame, Rich Sparkle was mainly involved in monetary typesetting and corporate services, predominantly for publicly traded corporations and institutional patrons in Hong Kong.
Source: Bloomberg