Beast Industries, the company owned by renowned YouTuber MrBeast, is revamping its approach to its grand giveaways.
The change comes under the leadership of its recently appointed CEO, Jeffrey Housenbold.
Jimmy Donaldson, a.k.a. MrBeast, famed for his generous YouTube giveaways, has traditionally paid retail prices for many giveaway items, including Teslas and gym equipment, reports Insider.
However, under Housenbold’s guidance, Beast Industries is now striving to secure these products for free or at a discounted rate, with the assistance of an eight-person brand partnership team.
“My goal is to make everything we do profitable,” Housenbold declared in an interview with Insider. Since taking over as CEO in September 2024, Housenbold has been meticulously scrutinizing Beast Industries’ financials, renegotiating advertising contracts, increasing ad rates, and exploring the use of AI to reduce expenses.
Despite the popularity of MrBeast and the success of his videos, Beast Industries reportedly suffered losses last year due to significant media expenditure.
Also Read: MrBeast Calls His Amazon Deal for ‘Beast Games’ a Financial Mistake: ‘This Is the Price You Have to Pay’
However, with recent fundraising efforts and the adoption of more conventional business practices, the company is expected to turn profitable this year.
The challenge now for Housenbold and his team is to ensure profitability without diluting the appeal of MrBeast’s videos.
The shift in Beast Industries’ strategy marks a significant change in the company’s approach to its operations.
The appointment of Housenbold, a seasoned executive, signals a move towards a more business-oriented model. The challenge will be to maintain the unique appeal of MrBeast’s videos while ensuring the company’s financial sustainability.
The success of this new strategy could potentially influence how other influencers and content creators manage their operations, marking a new era in the digital content industry.
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Image: Shutterstock/Joe Seer
