👊 Some healthy competition

👉 What the fact?!

MrBeast has for a long time ruled YouTube as the largest creator on the platform, with videos boasting an impressive 100+ million views on several occasions.

And on May 28th 2024, MrBeast announced the launch of YouTube analytics platform Viewstats. It positions itself as a direct competitor to other platforms like Tubebuddy and Socialblade.

It is built from the ground up by the MrBeast team and hopes to provide users with an in-depth analytics experience. In fact, it is built on top of internal tools the team has already used to grow their own media empire.

Viewstats launches with 4 key features:

• Video alerts: Allows users to monitor keywords, and set thresholds for specific metrics, and automatically notify the user when these are met.

• Thumbnails search: Input one video or image and the tool will display other videos with similar thumbnails.

• AB tests: Test different thumbnails and titles and get to know which one is the best performing.

• Curation: Brainstorm, search, and discover videos, then curate them in collections for future reference.

🕰️ The history

MrBeast started as a young guy in his parents bedroom, making videos with little to no budget. Now, the average spending per video has reached a mind-blowing 1 million USD, and the team has grown to an impressive 250+ people.

To fund these videos and further business development, the team has launched several products like chocolate bars, a fast food chain, and now, a YouTube analytics platform called Viewstats.

This announcement aligns perfectly with the bigger vision of MrBeast. Build an empire of companies benefiting from the massive reach of the YouTube video library.

🔥 Potential impact

As creators like MrBeast and others launch products separate from their YouTube channels, it solidifies their business revenue and improves longevity.

There are a few different ways to look at the launch of Viewstats. Let’s explore both.

🥊 More competition

The YouTube analytics space is ruled by a handful of titans like Tubebuddy and Socialblade. These platforms have been the go-to place for analytics and so far haven’t seen any signs of going away or even being affected by competition.

To affect titans like these, you need another titan; hence, MrBeast stepping into the ring is a big deal.

Only someone with a large enough reach or marketing budget (ideally both) can meaningfully compete in a mature market like this.

This could potentially result in competitors losing customers, having higher acquisition costs, and, worst case, going bankrupt.

🤑 Obvious business move

As creators grow, it becomes increasingly important to diversify their revenue sources.

Simply relying on YouTube Adsense and sponsors is often not a sustainable way to grow a business when you’ve got employees who depend on you for their living.

So, expanding the business strategy to building tools, businesses, and products outside of YouTube is a great way to not be fully reliant on just one revenue source.

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Ultimately, the most realistic scenario is that Viewstats will continue to coexist with its competitors, naturally creating a healthy market with options for all kinds of users.

👋 See you next Tuesday!

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