My First Million – Reed Duchscher: Inside Feastables, Night Media and Niche Creator Businesses

Intro

In this episode of the “My First Million” podcast, the hosts are joined by Reed from Night Media, a company that manages popular YouTubers. The conversation revolves around creator businesses, including Logan Paul’s Prime, and the challenges and opportunities in the talent management industry. Producer Ben announces his departure from the show, expressing gratitude for the opportunity to work as a creator. The hosts also discuss hiring for a producer position and their focus on summarizing books into one-hour stories. Join the hosts as they delve into the world of creator businesses and the future of the industry.

Main Takeaways

Creator Businesses and Talent Management

• Knight Media is a creator holding company with multiple verticals, including a venture studio, a studio making shows on streaming services, a venture capital fund, and a growth fee.
• Talent management businesses generate a lot of cash, but they have limitations such as being talent poor or relying on one or two whale relationships.
• Building a bigger management company is a challenge for talent management companies as they struggle to expand beyond their cash-generating management company.
• The management company can serve as a wedge to access other verticals like adventure studios or venture capital firms.
• Creators starting businesses is the future of the industry.

Feastables and Logan Paul’s Prime

• Prime is a hydration drink started by Logan Paul and KSI, marketed by them but operated by the founders of Lonnie Nu.
• Feastables is an innovative venture by Night Media, focusing on creating unique food products.
• Feastables aims to enter global markets, starting with Australia, UK, and Southeast Asia.
• The initial product category for Feastables is chocolate bars, with plans to expand into other categories like cookies.
• Feastables faces challenges in the global chocolate supply chain but is working to overcome them.

Emerging Creator Businesses and Niche Channels

• Smaller creators are using their channels as top-of-funnel for local service businesses like pressure washing and lawn mowing.
• Niche channels like vending machine and farming channels are gaining popularity on YouTube, appealing to various demographics.
• Darman is a profitable scripted YouTube channel, challenging the notion that scripted storytelling on YouTube can’t be profitable.
• Ryan Hall Y’all has a profitable weather channel on YouTube, discussing different weather patterns holistically.
• There is an opportunity for a new weather channel with a different approach to succeed.

The Power of Twitter for Creators

• Twitter is becoming a valuable platform for creators to build a business on, with a deeper consumer base compared to Instagram and TikTok.
• Building a loyal following on Twitter can lead to word-of-mouth marketing and potential business partnerships.
• Authenticity is key on Twitter, and followers trust influencers who don’t constantly promote products.
• Twitter may not be the best platform for growing businesses, but it can be great for building a fanbase.

Summary

Creator Businesses and Talent Management

Knight Media is a creator holding company with multiple verticals, allowing them to play in different spaces and be entrepreneurial. Talent management businesses, although cash-generating, have limitations such as being talent poor or relying on a few key relationships. Building a bigger management company is a challenge as it requires expanding beyond the cash-generating management company. However, the management company can serve as a wedge to access other verticals like adventure studios or venture capital firms. Creators starting businesses is seen as the future of the industry, allowing for more control and creativity.

Feastables and Logan Paul’s Prime

Feastables, an innovative venture by Night Media, focuses on creating unique food products. Logan Paul’s Prime, a hydration drink, is marketed by Logan Paul and KSI but operated by the founders of Lonnie Nu. Feastables plans to enter global markets, starting with Australia, UK, and Southeast Asia. The initial product category for Feastables is chocolate bars, with plans to expand into other categories like cookies. Challenges in the global chocolate supply chain are being addressed to ensure smooth operations and expansion.

Emerging Creator Businesses and Niche Channels

Smaller creators are leveraging their channels to build local service businesses like pressure washing and lawn mowing, showcasing the potential of niche markets. Niche channels like vending machine and farming channels are gaining traction on YouTube, catering to specific demographics and interests. Darman, a profitable scripted YouTube channel, challenges the notion that scripted storytelling on YouTube can’t be profitable. Ryan Hall Y’all’s weather channel on YouTube has gained significant traction, providing holistic discussions on weather patterns.

The Power of Twitter for Creators

Twitter is emerging as a valuable platform for creators to build a business on, with a deeper consumer base compared to Instagram and TikTok. Building a loyal following on Twitter can lead to word-of-mouth marketing and potential business partnerships. Authenticity is highly valued on Twitter, with followers trusting influencers who prioritize content over constant product promotion. While Twitter may not be the best platform for growing businesses, it serves as an excellent platform for building a dedicated fanbase.

Conclusion

As the podcast explores the world of creator businesses, it becomes evident that the future lies in creators starting their own ventures. Knight Media’s entrepreneurial approach and Night Media’s innovative ventures like Feastables showcase the potential for growth beyond talent management. The emergence of niche channels and the profitability of scripted storytelling on YouTube challenge traditional notions. Twitter’s value as a platform for building a loyal fanbase and potential business partnerships cannot be ignored. The podcast provides valuable insights into the evolving landscape of creator businesses and the exciting opportunities that lie ahead.