The D’Amelio family – which includes TikTok-famous sisters Dixie and Charli, as well as their parents – have reportedly partnered with Firebird to create a music-focused management company called DamGood Mgmt.
Only recently became known in a report of the joint venture Wall Street Journal, but the parties involved do not appear to have officially announced or confirmed the deal. Firebird itself was founded in 2021 by former Gibson chairman and KKR partner Nat Zilkha and former Ticketmaster boss Nathan Hubbard, and has reportedly raised more than $400 million from backers including Goldman and the aforementioned KKR.
Far from hesitating to deploy the capital, Firebird has been buying up all manner of industry properties of late – with plans to acquire stakes in the newly formed JVs of internet celebrities in and around the music industry. As for the latter, the D’Amelio sisters partnered with Spotify last year; Dixie released an album through HitCo in June 2022 and Charli won season 31 of it Dancing with the stars.
Now that around 80 percent of the D’Amelios’ reported $30 million in annual income comes from sources other than TikTok, DamGood Mgmt is poised to “direct the family’s diverse ventures and sign other online stars with a musical bent.” like that diary.
The D’Amelio family will reportedly own “an ownership interest” in DamGood, which Hubbard says is poised to drive sales growth on multiple fronts and not just the music side.
“Our focus is on growing an artist’s overall earnings, not just a single revenue stream,” said former Twitter exec Hubbard, whose current company DamGood is said to have initially pledged $20 million.
Of course, time will tell which influencer clients (in addition to the D’Amelios) the management firm signs and markets. When it comes to the D’Amelios, however, the “earnings pie” already appears to be extremely diverse – with the family’s inexplicable following apparently large enough to fuel a range of ventures.
D’Amelio Footwear — not to be confused with the sisters’ Hollister-collaborating fashion brand Social Tourist — launched last month, and Hulu has confirmed that there’s a third season of D’Amelio Footwear The D’Amelio Show is imminent. As one of several testaments to the vast army of humble supporters behind the D’Amelio brand, Dixie’s “Be Happy” has racked up a staggering 103 million streams on Spotify alone – with 113 million YouTube views for the work’s official music video.