It’s hard to argue that we’re not in the midst of an all-out revolution made possible by this all-consuming innovation we call the internet. While I often wonder whether or not we are any better off as a society as a result of the internet, it’s very clear to me that the “world wide web” has been an absolute boon to entrepreneurs of all levels.
People are making internet riches in a plethora of creative and innovative ways. Today we’ll focus on the world of YouTube, which hosts millions upon millions of “creators” who make income (some in the tens of millions) on YouTube.
YouTube’s “Secret Sauce” in a Nutshell
YouTube is a particularly enticing platform because it put a media studio into the pocket of “common folk.” If you have a smart phone, which almost everyone does, you already have a high-def camera and a decent microphone. A YouTube account is also free, so you there is essentially no barrier to entry. You can start creating content right away.
Creating things tends to lead to income, and the YouTube economy is a stunning testament to that fact.
Did You Know:
YouTube is the world’s second-most visited website.
The average number of channels with more than one million subscribers grew by more than 65% y/y.
Most YouTube channels get paid $0.5 per 1000 video views.
YouTube accounts for 25% of total global mobile traffic.
YouTube video influencers with 500-5K followers charge, on average, $315 per video.
Let’s Compare Two YouTube Channels…
I’ve looked at both channels extensively and as far as I can tell, both these fellows make a decent living as YouTube creators. Interestingly, I deem one of these two channels to be fairly strategically brilliant while the other one has some shortcomings that probably make it a diminishing asset over time.
Intro to Cheap RV Living:
A channel all about living in anything with four wheels.
The Cheap RV Living channel is run by Bob Wells, who is famous for spreading the gospel of the “rubber tramp” way of life. A rubber tramp is anyone who lives in something with four wheels. One could argue that Bob’s audience of van-dwelling vagabonds are merely people who love to camp….. full-time. Other people might call them homeless.
Bob’s own journey as a “rubber tramp” began when he found himself unable to pay child support after divorce. Rather than walk away from his financial responsibilities to his children, Bob decided to downsize big time! He ditched his apartment and started living in a van.
Bob is living proof of blessings disguised as curses. Most people faced with the idea of downsizing one’s living space into the confines of a van would have been crushed by the humiliation alone. Amazingly, Bob found that he LOVED living this way.
Intro to Joey’s World Tour:
A channel all about Joey gorging on fast food, and then reviewing said food.
The Joey’s World Tour channel is not necessarily for the faint of heart, but it has a strong following nonetheless. If you dig back into Joey’s earliest videos (about ten years ago), you can see that he lacked a bit of focus. He appeared to be trying to start a basic cooking channel.
It didn’t take Joey long though to transition into more campy “food challenges,” such as his “Powdered Doughnuts Food Challenge” and his “Nutella Food Challenge.”
The challenges, though, were short lived. About two years into his channel he settled in on “fast food reviews.” Joey also developed a more interesting persona over time. His early videos depict him as an “average Joe,” which he surely is. Later videos incorporated more of a crazy, quirky persona, which seems to have worked well for him.
Comparing Channel Thumbnails
My Take
Both channels have strong thumbnail games, which is vitally important for YouTube creators. Notice that both Bob and Joey are themselves “the brand.” Both rightly feature their pictures prominently in thumbnail (although Bob sometimes is left out in favor of a guest photo).
I would give a very slight edge in thumbnail design to Joey simply because his photos are so ridiculous as to attract some viewers via morbid curiosity (a la P.T. Barnum, for example).
Tip: An amazing tool for YouTube thumbnail creation is Canva. Thank me later.
Comparing The Numbers
Age of channel
CheapRVLiving……….4 yrs
Joey’s World Tour…...10 yrs
Number of subscribers
CheapRVLiving……….531,000
Joey’s World Tour…….444,000
Number of views
CheapRVLiving……….103,924,741
Joey’s World Tour…….95,934,906
Most Popular Video
CheapRVLiving: Tour of a Nomad Living in a Truck - 5.4M views
Joey’s World Tour: Nutella Food Challenge Hands Free - 3.3M views
My Take
It’s interesting to see that CheapRVLiving has build a larger audience in less than half the time. In fact, all of Bob’s numbers look better than Joey’s numbers. I believe this is due to an inherent flaw in Joey’s concept. B.B. King said it best: The Thrill is Gone!
Joeys food videos are oddly alluring, but I can’t imagine many fans stay with him for the long haul. How many chicken sandwiches do you need to see him eat?!
Comparing Revenue
These are of course estimates, but I think we can extrapolate based on documented averages to get a pretty good idea of the kind of income these two are pulling in.
CheapRVLiving Revenue Streams:
Estimated lifetime ad revenue (over 4 years): $51,962
Amazon Affiliate links: $117,936/yr
Online nomad course: $20,000/yr
T-shirt/Sticker sales: $6,000/yr
Free products: unknown value
Joey’s World Tour Revenue Streams:
Estimated lifetime ad revenue (over 10 years): $47,967
Amazon Shop: $18,000/yr
Cameo personalized greetings: $4200/yr
My Take
We see a clear winner here. I know some attorneys who don’t make as much as Bob does, and he lives in a van!!! The real brilliance in Bob’s approach is in the way he leverages Amazon. Big money here. And remember, manufacturers regularly send him products for free in the hopes that he will review them!
Joey likely still has a “day job,” which of course is o.k. There is nothing wrong with that. I just hope he is investing his YouTube earnings for a rainy day.
The Bottom Line on Bob vs. Joey
Bob Wells of CheapRVLiving has made a wonderful business out of his passion for teaching people to live free and sleep in their vans. I can’t imagine what his net worth is, but it’s gotta be impressive!
What I really love about his channel is that it is perfectly aligned with who he is, and his content is incredibly helpful. It’s no wonder his followers are loyal across time.
I worry about Joey. I see him as a person who is now trapped in an underperforming asset that relies on him to gorge on fast food several times per week. I don’t mean to sound cold, but I wouldn’t be surprised if medical bills one day rob Joey of every penny he’s ever saved from his YouTube exploits.
If you’re not yet working for yourself, I really like YouTube content creation as an entrepreneurial experiment because it’s so easy to start. Make no mistake, though - it’s a long haul and will take diligence and patience. YouTube is not a get-rich-quick platform.