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Wednesday, November 6, 2024

The Try Guys: Subscription Success or YouTube Gamble?

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Try Guys Ditch YouTube Ads for Subscription Service, 2nd Try, and See Early Success

The Try Guys, one of YouTube’s most established creator groups, have abandoned their reliance on Google’s algorithms and advertiser revenue by launching a standalone streaming service called 2nd Try. The bold move toward a subscription-based model comes as creators across platforms are increasingly seeking more stable income sources in the face of unpredictable algorithms and a volatile advertising market.

Key Takeaways:

  • The Try Guys are on track to become profitable with 2nd Try within three months of its launch.
  • The platform provides ad-free, exclusive content for a monthly subscription fee of around $5.
  • This move marks a broader trend of creators seeking alternative revenue streams, mirroring the success of platforms like Patreon and Netflix.
  • 2nd Try signifies a departure from traditional reliance on YouTube’s algorithms and advertising.
  • The creators emphasize that the platform’s growth is a top priority, with plans to make it their largest revenue source alongside merchandise and live touring.

The Struggle for Creator Income in the Age of Algorithms

The YouTube platform, like many social media giants, relies heavily on algorithms to determine what content users see. These algorithms analyze user behavior and prioritize content likely to generate engagement, such as likes and shares. This often forces creators to cater to algorithms, compromising the quality of their work just to stay visible.

"Having a business that is reliant on ads is very unstable and very unpredictable," Try Guys co-founder Zach Kornfeld told CNBC. "There’s just so much that’s out of your control, and we certainly experienced the worst of that."

The Growing Appeal of Subscription Models

The rise of subscription platforms like Patreon has provided creators with an avenue to bypass the algorithm, connecting directly with their most loyal fans who are willing to pay for exclusive content.

"It’s just not a reliable source of income for creative people, and so I think over the years, creators have learned that, and they’re seeking something more stable," said Patreon founder and CEO Jack Coyne.

Beyond YouTube: The Try Guys’ New Venture

The Try Guys, once known for their viral BuzzFeed videos, faced a career-defining internet scandal in 2022. The scandal resulted in significant financial losses, with the company operating at a loss for two years.

"Our company was operating at a loss for essentially two years. We got to a point where it cost more money for us to make the shows our audience loved than we got in from YouTube," said Kornfeld. 

This experience prompted the group to seek new revenue models, leading to the creation of 2nd Try.

2nd Try: A Focus on Exclusive Content and Direct Connection

With 2nd Try, The Try Guys are taking a bold step forward, offering their most dedicated fans access to premium content and eliminating reliance on YouTube’s unpredictable algorithms.

"We are really happy with how it’s going so far. It’s more than we probably thought we’d have at this point," said co-founder Keith Habersberger. "We have a long road ahead. The goal isn’t to get to this number. The goal is to keep growing and also to keep learning, and we’re going to be making mistakes."

The Future: Diversification and Direct Connection

2nd Try, while a significant departure for The Try Guys, is part of a larger trend.

Other popular YouTube channels like Watcher Entertainment and Dropout have also launched subscription-based streaming services to gain more control over their content and income.

The Try Guys acknowledge that YouTube remains an important part of their business model, but the focus is on growing 2nd Try to be their main source of revenue, alongside merchandise sales and live touring.

The Implications for Creators

The Try Guys’ success with 2nd Try could inspire more creators to explore subscription-based models, seeking stability and direct connection with their audiences. This move signifies a shift in the landscape of content creation, moving away from the dominance of algorithms and advertising-driven revenue models towards a more direct and empowered relationship between creators and their audience.

Article Reference

Lisa Morgan
Lisa Morgan
Lisa Morgan covers the latest developments in technology, from groundbreaking innovations to industry trends.

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