He Makes Millions By Giving Away Money
How Mr. Beast makes a million dollars by giving away money
If you have been around youtube for any amount of time, chances are you must have heard about Mr. Beast. I know what you are thinking... He makes money from ad revenue. Yes and no... I will explain more about this.
If you have not heard of Mr.Beast, he is a youtube content creator whose channel is focused on challenges where the winners get a prize that is normally cash.
Mr. Beast started as a gamer on youtube but quickly evolved his channel to a challenge based channel.
His videos take a lot of money and resources to make but how did he get there and how is he able to sustain that business model?
How he got there
The simple and short answer is virality.
Mr. Beast capitalized on virality just like so many other channels that have grown on youtube.
He however added something that no one on youtube had ever done and what so many people on youtube are scared to do.
He gave away money. Lots of money.
My first time watching a video of his was when he gave $10,000 to a homeless person.
This was way back before he even got to 100,000. If you are wondering, he is at more than 40 million subscribers today less than 4 years later and all is as a result of making videos like the one above.
He was willing to create virality on his own with an intuitive idea that giving away money with no strings attached or unattainable challenges, he would easily arouse the interest of people to find out whether that was real.
It worked. I remember the first time I saw the thumbnail of that video, I could not stop thinking about how that could happen.
How could someone give away so much money to a stranger just for a video?
But this was exactly his business model.
He knew that giving away so much money was going to generate a lot of talk around the internet, this driving him more views and subscribers.
