MrBeast's chocolate business earns more than the media, and Mr. Beast diversifies his operations

The world's most famous YouTuber Mr. Beast (MrBeast) The real way to make money is not to make viral videos, but to sell chocolate. The company it founded, Beast Industries, generated $250 million in sales and more than $20 million in profit last year through its chocolate business, Feastables.

MrBeast's chocolate business, Feastables, makes more money than the media

According to Bloomberg, MrBeast's company, Beast Industries, is the majority shareholder of chocolate company Feastables, which generated sales of about $250 million last year and profits of more than $20 million. During the same period, MrBeast's media business ( including his YouTube channel and reality TV ) for Amazon's Prime Video, sold similarly, but lost nearly $80 million.

MrBeast, whose real name is Jimmy Donaldson, has used his fame on YouTube and other social platforms over the past few years to diversify and build many media-agnostic businesses. In addition to chocolate company Feastables, Beast Industries is also a shareholder in snack brand Lunchly and owner of Viewstats, a software company that sells digital tools to content creators.

According to people with knowledge of Beast Industries' past fundraising, Beast Industries has raised more than $450 million over the past four years to expand these businesses. The company is now looking to raise a few hundred million more dollars, with the goal of expanding existing divisions and entering several new areas such as video games, beverages and health. He also joined the bidding battle to buy TikTok in January.

Last year, UAE-linked investment firm Alpha Wave led a $300 million Series C round, and Beast Industries' valuation rose to about $5 billion from about $1.5 billion a few months ago — for a company that lost nearly ($60 million for three consecutive )2024 years, according to people familiar with the matter This is a high valuation. In January, MrBeast noted on The Colin & Samir Show podcast that scaling up a business is very, very difficult.

The media is a marketing tool that will do more business

Last year, MrBeast hired venture capitalist Jeffrey Housenbold as president and chief operating officer of Beast Industries. Since then, Housenbold has appointed a Chief Financial Officer, Chief Product Officer and General Counsel to the executive team, as well as a brand partnership and strategy team. Ahead of a possible IPO, he is currently trying to professionalize the business, clean up some of the waste of spending, and expand into new areas.

And the company's entertainment division is playing an important role in selling other products. Housenbold said: "We have an unprecedented platform in terms of influence and number of fans. We have the opportunity to build on this coverage and distribution center."

Beast Industries predicts that Feastables will triple in size over the next few years. At the same time, the company expects media revenue to account for only one-fifth of its total sales by 2026.

Housenbold said:

Content and media "is a marketing investment in everything we do"!

This article on MrBeast's chocolate business earns more than the media, and Mr. Beast's realization of diversification first appeared in Chain News ABMedia.