YouTube star Jimmy Donaldson, better known as MrBeast, has turned his internet celebrity into a massive, multi-faceted business empire. With a staggering 442 million subscribers, he is one of the platform’s most successful creators and go getter capitalist. His journey exemplifies a shift away from depending solely on traditional ad revenue. It’s a great case study on how digital content creators can creatively diversify their income through exciting new entrepreneurial ventures.
MrBeast’s entrepreneurial spirit shines through his impressive multi-business portfolio. Recently, he helped create a new packaged food brand – Lunchly – with fellow YouTubers Logan Paul and KSI. The goal of this new for-profit venture is to provide tasty, convenient and affordable meal solutions. It is aimed at the mass market, meeting the increasing consumer trend toward convenience and speed.
Alongside Lunchly, MrBeast has recently released a toy line called MrBeast Lab, taking his brand beyond the world of digital content. Teaching That Line This line is aimed directly at younger audiences, tapping into the huge popularity he has with children and teenagers. He launched a virtual burger restaurant called MrBeast Burger. Since its launch, it has gained a lot of momentum by using his enormous social media following to whip customers into a frenzy.
Analytics platforms like Viewstats are perhaps the most important piece of MrBeast’s entrepreneurial pursuits. That movement would create an open YouTube Analytics API, which would allow other content creators to easily access and understand their own performance on YouTube. In adding this service, MrBeast further solidifies his dedication to fostering the creator economy, while creating a new lucrative revenue stream.
Merchandising has been even more central to MrBeast’s business strategy. He launched ShopMrBeast in 2018, an online storefront of branded merchandise that has helped him create a strong brand identity. His merchandise store has been a huge hit with fans and adds a whole other layer to his revenue stream.
One of MrBeast’s biggest projects by far is Feastables. No snack brand has rattled the cage of Big Food quite like this upstart. Feastables debuted three years ago with its inaugural product, the “MrBeast Bar.” It soon went on to take the market by storm, producing more than $10 million in sales in less than 72 hours. In just a week, more than a million bars sold, making it the best-selling launch in brand history.
Looking ahead at 2024, Feastables is expected to bring in around $250 million in revenue while being more than $20 million profitable. These numbers suggest that Feastables is more lucrative than the YouTube videos of MrBeast. In fact, it even more than doubles his earnings from his rival competition series on Prime Video. This remarkable achievement underscores the opportunity for creators to succeed beyond the ecosystems familiar to us, dominated by ad-supported mega platforms.
And like MrBeast, they need to continue to diversify their content to ensure they don’t grow stale. He intends to launch a mobile virtual network operator (MVNO). To accomplish this, he will likely work alongside big telecommunications companies like AT&T, T-Mobile, or Verizon. This would be a great brand extension on his part, building his emerging brand in the telecommunications arena with services that appeal to his base.
Moreover, as recently reported, MrBeast was interested in getting the U.S. operations of TikTok by becoming part of the American Investor Consortium. This tactical move is a reflection of his desire to expand his reach and take advantage of the short-form video content craze that’s taking the world by storm.
MrBeast recently filed a trademark application for a mobile app. This app designed to provide banking, financial advisement, and crypto exchange services is just one facet of his expansion endeavors. This project exemplifies his desire to use technology in positive and progressive ways to engage users, while continuing to diversify the business.
Retreating despite these bold moves, MrBeast’s media enterprise had a tough year, losing around $80 million. This loss serves as a reminder of the high stakes often involved in entrepreneurship and the entertainment field. What’s different, though, is that MrBeast’s resilience and ability to pivot have led him to do so and pursue many other income avenues.
