Why Listen To This?
- Interview with Reed Duchscher, MrBeast’s Manager and CEO of Night Media.
Learnings
- ‘7 – Difficult to put a price on sponsorship for a video as views per video vary widely, like 270 Million to 50 Million.
- ‘11 – Rationale behind multiple channels – to create multiple touch-points with the audience.
- ‘18 – Have a good team to run a business:
- Mr Beast hired CEO of another chocolate company, who as at the end of his Non-Compete, to run Feastables(his chocolate brand).
- ‘19 – Creators have distribution, but retail businesses are people businesses, without the ability to manage people, it can turn into a disaster.
- ‘20 – Creator Business revenue streams in descending order of importance:
- Ad Sense
- Brand Deals
- Apparel
- Content Syndication
- Consumer Goods
- Paywall Service
- Memberships
- ‘24 – Found Money – Money outside of AdSense, the manager is negotiating for.
- ‘24 – The job of a manager – building relationships
- ‘30 – Basic things creators should know about their business:
- How you make money?
- How much you’re spending?
- Make sure you’re netting profit month over month and not just burning cash.
- ‘35 – Difficult to build a community in the case of swipe content; where one video is less than 1 minute; people end up not remembering the name of the creator.
- ‘41 – There are a lot of videos that are not posted because of other reasons like not having a proper thumbnail, Jimmy not liking the edit, etc.
- It is difficult for the manager as these numbers have brand deals attached to them and the manager has to tell the brand the video is not happening.
- ‘44 – Night Media has a character checklist that every creator they represent must have.
