Every few months, it seems like a new A-lister trades the red carpet for the boardroom. Tequila brands, shapewear lines, venture funds; the celebrity-founder pipeline has become so familiar that Americans take it for granted. However, a 2024 Harvard Business Review article suggests the research behind this trend is more complicated. Many celebrity-led businesses rely heavily on fame, and that gap can become apparent over time. Kevin Hart's media company, Hartbeat, is an early example of exactly that gap.
Los Angeles Times reports that in April 2022, Hart merged two of his ventures, HartBeat Productions and the digital comedy platform Laugh Out Loud, into the new company titled Hartbeat, which was purchased by private equity firm Abry Partners in a minority stake for $100 million, pricing the new entity at roughly $650 million. For a stand-up comedian who has become a Hollywood fixture, it was a big moment, a sign that his name could anchor a nine-figure media company.
