For many teenagers around the world, MrBeast is living the ideal life. He is expected to earn more than $82 million in 2023 thanks to his hundreds of millions of YouTube subscribers. However, the world's most popular YouTuber is warning his fans not to expect the same success.
By 2023, a study by Morning Consult found that 57% of Gen Z would become an influencer if given the choice. Fun, flexibility, and money are the top reasons for this aspiration. But it’s not easy to achieve. That’s why MrBeast – aka Jimmy Donaldson – urges fans to think twice about a career in content creation, especially if they’re turning down other opportunities.
“It’s painful to see people quit their jobs/drop out of school to do content full-time before they’re ready,” Donaldson wrote on social media platform X. “For every person who makes it, there are thousands who fail. Please keep that in mind and be smart.”
Young people can be easily lured in by the promise of fame on platforms like TikTok and Instagram. Some content creators can charge as much as $40,000 per post, and even hundreds of thousands of dollars if they reach the heights of Kris Jenner. But others aren’t so lucky.
According to social media management and marketing tool Hootsuite, the “unwritten standard” for KOLs is $100 per 10,000 followers, plus additional fees depending on the complexity. That means individuals need a large following to make a living. According to data firm CEIC Data, the median monthly income for Americans in January 2024 was $4,713, meaning someone with 10,000 followers would need to post about 50 times a month to earn an average income.
Besides, the content creation business is also very expensive, especially at Donaldson's "level". MrBeast once shared that there are videos that cost millions of dollars to produce. He also revealed that even when the video reaches a billion views on X, the revenue still does not support a small part of the cost.
A look at Donaldson's portfolio — combined with recent events — could also serve as a wake-up call for aspiring content creators.
In addition to his charity work, Donaldson also sells burgers (MrBeast Burger) and chocolates (Feastables). According to Business Insider, these efforts help him earn between $600 and $700 million a year.
Other KOLs like Logan Paul and KSI are the faces of beverage brand Prime, while Huda Kattan and Kylie Jenner have built huge cosmetics and skincare empires.
“Not putting all your eggs in one basket” is something content creators are taking a hard look at, especially as the US moves to ban TikTok outright. Thomas Walters, co-founder of global influencer management firm Billion Dollar Boy, advises: Think about diversifying your business if you don’t want to be vulnerable in the future.
(According to Fortune)
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