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Drawing on research in the worlds of advertising, magazines and fashion, this paper discusses how celebrities mediate between different fields of cultural production. By focusing on celebrity endorsements in advertising, it also outlines how film actors and actresses, athletes, models, pop singers, sportsmen and women mediate between producers and consumers via the products and services that they endorse. As economic mediators, celebrities’ actions have important strategic and financial implications for the corporations whose products they endorse. As cultural mediators, they give commodities personalities and perform across different media, linking different cultural fields into an integrated name economy.

Despite an increase in businesses started by celebrities, we have limited understanding as to how celebrity entrepreneurs benefit new ventures. Drawing on a reputational capital perspective, we develop the notion of celebrity capital and show how it can be used to uniquely differentiate the venture and to overcome liabilities of newness. We discuss how celebrity capital can negatively influence the venture when negative information about the celebrity surfaces and in terms of limiting the scope of the venture. We discuss the different strategic implications of celebrity capital for ventures using celebrity entrepreneurs versus endorsers.