Beast Industries is shifting from extravagant spending toward tighter financial management under CEO Jeffrey Housenbold. Housenbold joined in May 2024 and became CEO in September, then prioritized profitability by renegotiating brand and advertising deals, increasing ad rates, and deploying AI to lower operating costs. The company is pursuing free or discounted products for video giveaways through an eight-person brand partnerships team to avoid prior retail purchases. Massive media spending previously contributed to losses, prompting investor funding and a move toward more traditional business practices to sustain large-scale creative giveaways while improving margins and growth prospects.
MrBeast previously paid retail prices for many products, including beverages, gym equipment, and dozens of Teslas. Under its new CEO, Jeffrey Housenbold, Beast Industries is seeking to get the products featured in videos for free or better, figuring lots of brands will gladly do so to appear alongside the world's most famous YouTuber. The effort is being aided by an eight-person brand partnership team.
"My goal is to make everything we do profitable," Housenbold told Business Insider in an interview. Housenbold, who joined Beast Industries in May 2024 and became CEO in September, has been taking a broad look at Beast Industries' finances. The company has also renegotiated ad contracts, increased ad rates, and sought to use AI to reduce costs where it can, a person familiar with the business said.
Collection
[
|
...
]