TLDR;
In this episode of Figuring Out, Raj Shamani interviews MrBeast, the world's biggest YouTuber, to discuss content creation strategies, business ventures, and the future of the creator economy. MrBeast shares insights on authenticity, content quality, and the importance of continuous improvement. He also talks about his show, Beast Games, his chocolate brand, Feastables, and his perspective on the evolving landscape of content creation.
- Authenticity is key to building a long-term fan base.
- Relentless obsession with making a better product is essential for success.
- AI is being used for transcription and thumbnail mockups.
- Creators should focus on brand deals or royalty deals rather than running their own businesses.
- Three questions every YouTuber should ask: Is the video original? Am I putting in maximum effort? What am I improving from last time?
Intro [0:00]
MrBeast expresses his excitement about being on the Figuring Out podcast, acknowledging its popularity in India. Raj Shamani welcomes him and mentions how MrBeast's strategies have been implemented by his team. The conversation is set to be a personal consultation, covering various aspects of MrBeast's career and business ventures.
Raj’s appreciation for MrBeast [3:28]
Raj Shamani expresses his appreciation for MrBeast's work and mentions that his team has implemented strategies learned from MrBeast's previous podcast appearances. MrBeast acknowledges the kind words and expresses his enthusiasm for the conversation.
The strategy that works best for a creator [4:25]
Raj contrasts MrBeast's humble persona with Logan Paul's more outrageous one, questioning which strategy is better for building a long-term fan following. MrBeast responds that authenticity is most effective. Creators should be themselves, as faking it is unsustainable and easily detected by the audience.
The sacrifices made by MrBeast [6:20]
MrBeast reveals that he has sacrificed everything for his career, including personal time and holidays. He recounts instances where he prioritized work over family events, highlighting his intense dedication. He emphasizes that achieving greatness often requires sacrifices that may seem absurd to others.
Raj discusses Beast Games [8:03]
Raj shares his positive review of Beast Games, praising its grand scale and engaging format. He notes that the show is captivating and transcends language barriers. Raj particularly enjoyed the unique elimination methods and the character development of the contestants.
MrBeast discusses Beast Games [9:21]
MrBeast shares details about the production of Beast Games, revealing that the first episode cost almost $15 million. He mentions the use of 1,100 cameras, requiring massive server space to store the footage. MrBeast explains his desire to create a streaming show that allows for character development and storytelling, which is challenging to achieve in shorter YouTube videos.
Funding for Beast Games [12:37]
MrBeast explains that while Amazon contributed significantly to the funding of Beast Games, he also invested a substantial amount of his own money to enhance the show's quality. This overspending led to adjustments in his YouTube video budgets.
Filming of Beast Games [13:28]
MrBeast describes the intense filming schedule for Beast Games, involving 15-hour days for 45 consecutive days in Canada. This rigorous production impacted his YouTube channel, requiring him to stockpile videos and undertake a demanding travel schedule to various locations around the world.
The purpose behind the show [16:10]
MrBeast explains the extensive planning and rewriting process behind Beast Games, emphasizing the goal of creating a unique reality challenge show. He shares an anecdote about a machine gun challenge that was ultimately deemed unfeasible. MrBeast underscores the importance of having a dedicated team and the need for blind faith in the creative process.
The reason he believes the show will be a success [21:30]
MrBeast expresses his belief that Beast Games will succeed because it was created with first principles in mind, hiring the best people and avoiding typical reality show tropes. He highlights the show's unscripted nature, the grand scale of the sets, and the record-breaking cash prize. MrBeast hopes the show's success will encourage streaming platforms to trust creators more.
The future of podcasts [25:23]
MrBeast expresses his strong belief in the future of podcasts, citing Joe Rogan's influence and ability to bypass traditional media. He notes the power of podcasts to allow individuals to speak directly to their audience. MrBeast believes podcasts will continue to grow in importance as a medium for understanding people's perspectives.
Hacks for growing podcasts by MrBeast [26:52]
MrBeast advises focusing on creating the best possible content, improving articulation, and researching unique questions. He emphasizes the importance of providing value to listeners and a relentless obsession with product quality. MrBeast suggests finding questions that are both interesting to the host and appealing to the audience.
MrBeast's advice to content creators [30:16]
MrBeast advises aspiring content creators to focus on making a large number of videos and improving with each one. He stresses that the specific niche doesn't matter as much as consistent effort and resilience. MrBeast acknowledges that success requires hard work, perseverance, and a bit of luck.
The countries from which he receives the most views [31:48]
MrBeast reveals that India accounts for about 7% of his long-form video views and 13-14% of his short-form views. He mentions that Spanish-speaking regions, particularly Mexico and South America, are significant sources of views. MrBeast clarifies that he doesn't view any region as a "view farm" but aims to reach as many people as possible.
Revenue from YT views across different countries [33:11]
MrBeast explains that revenue per view (RPM) varies significantly across countries due to differences in per capita income and advertising rates. He notes that views from India generate less revenue compared to views from the United States. Despite this, MrBeast emphasizes that his primary goal is to reach a wide audience, regardless of revenue potential.
Launching Feastables in India [34:34]
MrBeast discusses the launch of Feastables in India, noting that pricing is a key consideration due to the lower discretionary spending. He plans to manufacture the bars in India to reduce costs and is exploring collaborations with Indian creators. MrBeast emphasizes his commitment to ethical sourcing and fair trade practices.
The making of Feastables [36:49]
MrBeast shares insights into the ethical sourcing of cocoa for Feastables, partnering with Tony's Chocolonely to ensure fair wages and labor practices. He highlights the company's commitment to fair trade certification, living wages for farmers, and projects to support communities in West Africa.
Sales of Feastables [38:41]
MrBeast admits that selling Feastables online initially was a mistake, as most chocolate sales occur in retail locations. Despite this, the brand managed to sell $20 million online in its first year. He emphasizes the importance of continuous learning and adapting in the consumer packaged goods (CPG) industry.
Challenges faced during the making of Feastables [39:53]
MrBeast details the various challenges faced during the making of Feastables, including reformulation of flavors, packaging issues, and branding improvements. He recounts a specific incident where a high percentage of Feastables bars were broken in Walmart stores due to poor box engineering. MrBeast emphasizes the importance of hands-on involvement and continuous improvement.
Advice for creators starting their own brand [46:53]
MrBeast advises creators to be hands-on with their products and obsess over every detail. He suggests that most creators should partner with established companies through royalty deals rather than running their own businesses. MrBeast believes the opportunity cost of running a brand is often too high compared to focusing on content creation and brand deals.
The future of creator-led brands [49:48]
MrBeast discusses the future of creator-led brands, noting that while some celebrity brands have succeeded, many fail. He emphasizes the need for extreme focus and assembling the right team. MrBeast suggests that successful creator-led brands require a dedicated effort and a world-class team.
MrBeast’s marketing idea for a blender [51:59]
Raj asks MrBeast for marketing ideas for a blender brand. MrBeast suggests bringing back a modern version of the "Will It Blend?" campaign. He also proposes getting Gordon Ramsay to use the blender and exploring product placement in movies by contacting set designers. MrBeast emphasizes the importance of product differentiation and viral marketing strategies.
The future of content creation [58:16]
MrBeast expresses optimism about the future of content creation, noting the continued growth of YouTube and the increasing monetization opportunities for creators. He advises creators to stay informed about emerging technologies like AI and to surround themselves with knowledgeable people.
The use of AI in MrBeast’s videos [59:21]
MrBeast shares how he uses AI for tasks like transcribing videos and creating thumbnail mockups. He recounts a controversy on Twitter when he posted a job listing for an AI concept artist, highlighting the sensitivity around AI potentially replacing human artists. MrBeast clarifies that he employs a large team of thumbnail artists and uses AI to assist them.
3 questions every YouTuber should ask themselves [1:01:49]
MrBeast shares three questions every YouTuber should ask themselves before making a video: Is the video original? Am I putting in maximum effort? What am I improving from last time? He uses the analogy of a purple cow to illustrate the importance of originality and emphasizes the need for continuous learning and improvement.
Yearly spending on content [1:04:39]
MrBeast reveals that he spends well over $200 million on content each year, including YouTube videos, TikTok shorts, and the Amazon show. He mentions that Forbes recently listed him as the highest-paid influencer of 2024.
Thank you for listening [1:06:48]
Raj Shamani thanks MrBeast for his insights and encourages viewers to watch Beast Games on Prime Video. He also asks viewers to leave comments and suggestions for future episodes.