MrBeast, a YouTube sensation, continues to make headlines for his extravagant giveaways and philanthropic work. The internet personality, whose real name is Jimmy Donaldson, recently went to Antarctica and survived the permafrost for 50 hours.
He also showed his fan base what it was like to check into a $1 million hotel two months ago, and it appears that the creator will not run out of ideas as he approaches the 130 million subscriber mark.
But how exactly does this YouTube channel amass billions in audience engagement? The MrBeast channel president gives all of us fans a hint.
Creators with Superpowers
Marc Hustvedt, 43, the president of MrBeast, has been a significant player in the digital entertainment industry for over a decade. Hustvedt founded TubeFilter, a website that covers the online video industry and created the award show The Streamys, which recognizes the best in online video and is the people behind one of the most successful YouTube video channels.
Hustvedt recently spoke with Fast Company about the state of the industry and the future of digital entertainment, and he has some fascinating stories to share.
Creators have the tools they need to succeed in the digital entertainment industry, according to Hustvedt, as long as they can consistently produce content that their audience wants to see.
He believes that YouTube creators have "superpowers" and that some excel at retention-based editing, others excel at marketing and building hype, and others excel at "oozing authenticity" and being themselves.
Hustvedt told Fast Company about a pivotal moment in 2009, when he first devised The Streamys, and how the YouTubers felt differently.
He observes that while many people saw YouTube as a path to Hollywood, there was something genuinely fascinating about YouTubers' obsession and work ethic.
He cites Phil DeFranco, Jenna Marbles, Shane Dawson, and the Fine Bros as YouTubers who were relentlessly obsessed with advancing and getting better with the art that is YouTube content creation.
An Industry Shift
Hustvedt believes that the capital markets missed the mark in the 2010s. They saw the multi-channel network (MCN) layer as valuable, thinking aggregating views into a single network was necessary. However, these networks raised a lot of money, but they are now all gone.
The YouTube veteran also mentioned that, nonetheless, the same trends persist: digital ad spend increasing year over year, and TV ad spending is shifting to digital. The audience is expanding; YouTube now has over two billion users.
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Hustvedt, on the other hand, is glad that these investments occurred because they helped professionalize the industry, and it is now possible to hire people who have helped develop shows and talent or worked on large campaigns with major brands.
A Bright Future
Hustvedt also mentions that creators face numerous challenges, including burnout, one of the most consistent issues that most creators have experienced, either individually or as a team. One of the most difficult challenges is figuring out how to "modulate the gas pedal."
Content creation is like a never-ending show; creators are constantly under pressure to maintain consistency and growth because falling behind can happen quickly.
Finally, Hustvedt believes that the future of digital entertainment is bright as long as creators can consistently produce content that their target audience wants to see. The tools are available for them to complete the remaining business tasks, and he encourages creators to embrace their superpowers and build a business on YouTube.
As digital ad spend grows year after year and TV ad spending shifts to digital, the audience is growing, and with over 2 billion people on YouTube, the opportunities are limitless.
Read more about the Fast Company interview here.
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