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YouTube Stars Rhett and Link Think This Is Their Moment
Summary
Rhett McLaughlin and Charles Lincoln Neal III, known as Rhett and Link, have made good on their childhood promise to do big things in showbiz. They have built an online entertainment studio with videos that rack up more than 700,000 hours of watch time daily and are now exploring selling a stake in their company, Mythical Entertainment, to companies like Spotify, Roku and Candle Media. Mythical is profitable and on pace to generate about $40 million in revenue this year. They are pitching potential acquirers on replacing traditional TV content with relatively inexpensive shows produced by creators and are also launching an accelerator program for up-and-coming creators.
Q&As
What did Rhett McLaughlin and Charles Lincoln Neal III swear in a North Carolina cow pasture in high school?
Rhett McLaughlin and Charles Lincoln Neal III swore a blood oath in a North Carolina cow pasture in high school.
What company has Mythical Entertainment tapped to explore selling a stake in the business?
Mythical Entertainment has tapped the Raine Group, a merchant bank, to explore selling a stake in the business.
How much revenue is Mythical expected to generate this year?
Mythical is expected to generate about $40 million in revenue this year.
What is Mythical's accelerator program aimed at providing up-and-coming creators?
Mythical's accelerator program is aimed at providing up-and-coming creators with capital to start their businesses without resorting to using their father-in-law's basement.
What challenges do video creators face in running an online video business?
Video creators face challenges such as fatigue and boom-and-bust spending in running an online video business.
AI Comments
👍 Rhett McLaughlin and Charles Lincoln Neal III have lived up to their blood oath and are now looking to expand their business, Mythical, with the help of some major companies. They are proving to the online world that the creator economy is becoming a valuable asset and can be a great source of investment.
👎 Despite the success of Mythical and their ambition to expand, they are still a small business compared to bigger companies such Netflix, Disney, and NBCUniversal. Furthermore, many online video businesses have had difficulty wringing enough profit from ads and have gone under, leaving creators in the dust.
AI Discussion
Me: It's about Rhett and Link, two YouTube stars who have built an online entertainment studio and are now looking for investors to expand their business. They believe that the creator economy is becoming a more attractive place for investment.
Friend: That's interesting. What do you think the implications of this could be?
Me: Well, it could mean more opportunities for creators, as there is potential for a larger pool of investors to fund their projects. It could also lead to more consolidation in the industry, as larger companies acquire these creator businesses and their stars. Finally, it could help to create a more professional environment for creators, as the influx of money could allow them to focus on their projects without having to worry about basic financial needs.
Action items
- Research the creator economy and the companies mentioned in the article to gain a better understanding of the industry.
- Follow Rhett and Link on social media to stay up to date on their business ventures.
- Consider investing in the creator economy to capitalize on the potential growth of the industry.
Technical terms
- Creator Economy
- A term used to describe the expanding industry of online entertainers.
- Merchant Bank
- A financial institution that provides services such as underwriting, mergers and acquisitions, and other financial services.
- Connected TV
- A type of television that is connected to the internet and can access streaming services such as Netflix and Hulu.
- Multichannel Network
- A company that works with YouTube creators to help them monetize their content.
- Ad Revenue
- Money earned from advertisements placed on a website or other online platform.
- Accelerator Program
- A program designed to help startups grow quickly by providing them with capital, resources, and mentorship.