Hi, this is Wayne again with a topic “X Can’t Give It to You”.
Uh, Mr Beast recently had a random crypto Enthusiast, respond to him promoting a video on Twitter um that he should hey. You know, Mr Beast Jimmy: why don’t you upload the video directly to the platform instead of just posting, a link to where people can go? Watch the video which historically does not perform very well compared to an organic Tweet. Now, obviously it’s Mr Beast, so his video or his post is just I upload, go watch or I’ll drop, kick you and it has 66,000 likes, but for him that is not a ton of Engagement. That’S that’s! You know on the lower side, so that’s been the case for a long time. Just you know simple short self-promotional tweets don’t perform as well as when you try and come up with something really engaging and really unique that you know serves the Twitter audience really well.
Um, so it’s it’s a really valid question. Why not just upload the content here and people can just watch it um and Jimmy responded, saying: okay hold on first Elon Musk pitched in he goes yeah yeah, yeah, 10,000 likes 10,000 likes, and so Jimmy responded with. I think a a really actually um succinct version of what I’ll kind of try and talk to you guys about Fair. He basically goes.
My videos cost Millions to make and even if they got a billion views on X, it wouldn’t fund a fraction of it. Um colon forward slashface um, I’m down to test stuff once monetization is really cranking, and this is a really good point that I think a lot of people don’t necessarily understand about platforms. I’Ve been asked a thousand times about at least multiple dozens of alternate platforms. Lonus.
Why don’t you upload your videos here? I was about to say 2x as a as a just a variable that doesn’t work: okay, uh lonus? Why don’t you upload your videos to Daily Motion except we did yeah yeah? Why don’t you upload your videos to Daily Motion? Why don’t you upload them to you know, rumble or Odyssey or any of the any of the countless alternate video platforms, and the answer is always guys the economics of it just don’t make any sense, because it it can only be one of two ways right: you’ve, Either got the ability to get a lot of views with a very, very low perview monetization rate. That’S YouTube or you’ve got the ability to get very few views with a very high monetization rate. So that’s going to be something more along the lines of like a um uh. What’S that not master class, but the one where, where it’s like it pays out, based on how many views you get, I can’t I can’t remember, but you know something like like selling a course or or something like that.
That’S just about the highest possible CPM. You can get because each individual who buys the course is going to pay 10 or 20 or $ 50 or $ 100 or whatever the case may be. So there’s your spectrum and the problem is that unless your name is Google – and you happen to own YouTube, at least this is true in the Western World, the economics of anything, that’s not paying like this getting less than hundreds of thousands. Millions of views just doesn’t make any sense.
Um float, plane, sits kind of somewhere in between where people pay anywhere from the ogs pay $ 3 a month anywhere up to, I think our highest tier is $ 10 a month, and even then you know we have to put a ton of work into making That platform appealing to people, we have to upload a bunch of extra content, so it ends up being kind of a mix. It ends up being our regular content at a much higher monetization rate, but but then it ends up being this other much higher cost content. At a I shouldn’t say: higher cost it’s lower cost, but it’s not going to other platforms that also contribute to it. So float plane has to bear that cost completely on its own. So we have this other sort of exclusive or behind the scenes or whatever else.
It is content that sits on there that is paid for by those subscribers, so that kind of sits somewhere in between so there’s kind of your spectrum and the reality of it is that Twitter X, Twitter’s Mone ation is just not even close. I even if you’re, if you’re a person sitting in front of your webcam, I am not sure if even at you know, let’s let’s forget about Mr Beast, because there’s only one person if we do the math based on Mr Beast, there’s only one person to whom That’S relevant yeah and his name is Jimmy um, whereas if we talk about it, maybe more along the lines of let’s say someone who would have a quar million to a million subscribers on YouTube. Okay, so you’re someone who’s getting realistically, it’s probably somewhere between 10 15,000 views.
A video to you know maybe 250,000 views of video somewhere in that range. Even if you could Port your entire YouTube audience over to X, Twitter you’d be looking at maybe tens of dollars for that video which, if it’s just you and a webcam, may actually be viable. But if it’s anything beyond that, you’re you’re, probably paying yourself less than minimum wage, and you might say okay! Well, are you really, though, because it’s just purely incremental right like why not just have the little X cherry on top of all your views on YouTube or whatever else, but you got to understand from a Creator’s point of view, at least, if you’re a a business-minded One there’s an opportunity cost for everyone who watches on this platform, where the monetization is very low, anywhere you’re uploading, you’re, theoretically trying to drive more people there so like if it’s worse, why are you driving people there, especially when most of the people looking for videos? Are probably going to be on YouTube anyways when you’re looking for publicly freely accessible videos, so people often ask themselves or or ask out loud, even you know, why is it that YouTube? Has this seeming Monopoly on VOD content and there’s a lot of answers for how it came to be the way that it is right now, but as for why it is the way it is right now you know: why are why do twitch streamers want to get A foothold on YouTube: why do Tik tokers want to make a transition over to YouTube? The answer is simple, and it’s that people like to be paid for their work and YouTube offers by far the best compensation for their work, and that’s not it’s not just like. Oh, it’s it’s all about the money.
It’S like think about it. This way. If, in the morning you got dressed brushed your teeth, ate some oatmeal and you had the option to go to one of six different places and one of them paid the most and you did the exact same job and your job. Wasn’T you know to manufacture um, you know the train that runs over people or you know the lever that doesn’t seem to work to prevent the train from running over people or you know whatever the case may be as long as what you’re doing is not. You know obviously morally abhorent yeah well, which one do you drive to. I I think it’s a pretty obvious answer. You go to the one that compensates you best and YouTube.
Has this For Better or For Worse, very powerful machine that ensures that if you are able to get views on the platform, you are able to be paid Luke’s calling someone yeah, don’t worry about it! Well, this is very interesting. I know I would. I would love to know who we’re going to be talking to live on the show today.
Are we planning to tell them they’re live on the show, we’re not talking to anybody live on the show. We are not talking to anybody, we’re not talking to them. Okay wow: this is very mysterious anyway um we H, we actually do have monetization enabled on X, Twitter, and I thought I would just share with you guys, uh. We don’t upload a ton of video, but we have uploaded some videos that have gotten. You know. Thousands of views, or whatever typically uh man, I’m trying to think I actually don’t know what a thousand views is worth on YouTube it really it varies a lot, but the point is we have a pretty active Twitter account fair amount of Engagement, and this should give You some idea of why people don’t really um why someone like Jimmy might not bother so here’s all of our all of our payouts um for the last I gu – I guess you know 3 months or whatever um anywhere from you know.
60. 60. Oh this I mean this could be 65, anything oh 65.99.
Okay, I don’t know it could have been. There could have been another. There could have been another digit in there or something like that.
Um, let’s say for the sake of argument. How many typical views does Jimmy get on a video 50 million to 100 million? Is that a pretty fair range? Why don’t we say? 100 million sounds fair. I don’t really look at them, but that sounds about so let’s say Jimmy is 100 times our size.
Let’S say we get 1 million, let’s take the let’s take kind of a mid to Upper range for him. Let’S take a lower range for us. We typically get a million to two million.
So let’s say we get a million views of video and let’s say he gets 100 million views, a video he’s 100 times our size. He would make. Let’S say for the sake of argument.
Did you say 50 to 100 yeah, none of his get 50? Oh okay! So he’s way above that now y okay, I haven’t looked in a while yeah. Usually it’s like like 80 to 200 is where I’m seeing most of them. Okay, so let’s say 150, so, let’s say: okay, let’s say he’s 150 times our size, so he would get around 10 grand from Twitter, assuming he had a similar strategy to us.
You know trying to kind of post every day and meme or you know whatever else that is I mean like that is not even a a a rounding error. Um for him like I just it it just it. Doesn’T it doesn’t register he. He could literally make an offhand comment about man, I’m trying to think of something totally totally trivial like like he could. He could do a special edition. Popsicle stick with, like Mr Beast on it, and that’s it’s nothing else.
It’S a popsicle stick. It sounds like a a what was. It sounds like a supreme drop yeah and then he could make a tweet about the popsicle stick and it would Eclipse his Twitter Revenue that he actually makes organically from the platform like it’s. Just it’s just not a factor for someone like that um.
So that’s! That’S that’s why I just don’t think that as much as people want to see it you’re going to see this Mass exitus from YouTube anytime, soon or ever such a ever such a big word, but I just don’t see anyone else, even really trying like bite, dance, Tik Tok maybe had an opportunity but haven’t managed to figure out either the monetization of the platform itself, or they haven’t figured out how to share in a way that is enticing to creators like you still have people trying to migrate, trying to migrate their audiences .