YouTube sensation Jimmy Donaldson, better known by his creator name “MrBeast,” is taking his talents to Amazon.com Inc AMZN to launch a new game show this week.
The show is likely to garner a lot of attention and could benefit Amazon shares, as well as billionaire David Tepper who counts Amazon as his largest U.S. holding.
What To Know: MrBeast’s “Beast Games” is set to premiere exclusively on Amazon’s Prime Video platform on Thursday.
The show is based on Donaldson’s popular YouTube channel, which has 337 million subscribers at the time of writing. According to Amazon, the show will be a reality competition series with 1,000 contestants competing for a $5 million cash prize over 10 episodes.
The show will launch its first two episodes a week before the highly-anticipated release of “Squid Games 2” on Netflix Inc NFLX, underscoring the competitive pressure of the streaming space. The remaining episodes will be added in weekly installments.
Donaldson, who will serve as host and executive producer, previously said he chose Amazon over other streaming platforms because the company gave the streamer “the most creative control.”
“If you're a streamer/youtuber I want to see your reaction to my new show tomorrow!! I convinced Prime Video to let you guys react to episode 1 on stream and make reaction videos on it,” Donaldson said in a post on X on Wednesday.
Related Link: Amazon Prime Vs. Netflix: MrBeast Game Show Arrives Dec. 19, ‘Squid Game’ Season 2 Drops 1 Week Later
Why It Matters: Amazon shares are up more than 50% year-to-date and have climbed nearly 15% over just the past month as the stock rallied to new highs. Given the popularity of MrBeast, “Beast Games” has the potential to make waves in the streaming world, which could further benefit Amazon shares.
Amazon is Tepper’s largest U.S. holding and represents the third largest position in Appaloosa’s portfolio behind Alibaba Group Holding Ltd BABA and PDD Holdings Inc PDD.
In the third quarter, Tepper trimmed his Amazon position by 8%, but it still remains his largest U.S.-based holding by a wide margin, representing 8.86% of the firm’s portfolio, versus a 6.2% weighting in his next-largest holding Microsoft Corp MSFT and a 5.31% weighting in his third-largest U.S. position Meta Platforms Inc META. It’s worth noting that Tepper trimmed Microsoft by about 18% and Meta by about 33% in the third quarter.
Appaloosa is already outpacing gains in the S&P 500 this year with the firm up approximately 30% versus roughly a 27% gain in the S&P 500. Appaloosa appears to be anticipating further price appreciation in Amazon shares.
Price Action: Amazon shares were down 1.17% at $228.41 at the time of publication, according to Benzinga Pro.
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