Beast Industries, owned by YouTuber MrBeast, is overhauling its giveaway strategy under new CEO Jeffrey Housenbold, Insider reported. MrBeast, also known as Jimmy Donaldson, has traditionally purchased items like Teslas and gym equipment at retail prices for his videos. Now, an eight-person brand partnership team is working to secure free or discounted products to boost profitability. Since taking over in September 2024, Housenbold has reviewed financials, renegotiated ad contracts, raised ad rates, and explored AI tools to cut costs. Despite past losses from high media spend, the company is expected to reach profitability this year following fundraising and the adoption of conventional business practices.
