Jimmy Donaldson, better known as MrBeast, is reportedly planning to launch his own mobile phone service in 2026, according to leaked investor documents viewed by Business Insider. The 27-year-old creator, who has amassed over 431 million YouTube subscribers, wants to follow the mobile virtual network operator (MVNO) playbook: essentially renting network capacity from carriers like T-Mobile or Verizon to offer MrBeast-branded service without building his own infrastructure from scratch.

The business model has proven lucrative for celebrities. Ryan Reynolds sold his Mint Mobile to T-Mobile for $1.35 billion in 2023, while President Trump launched his own Trump Mobile service earlier this year, offering “The 47 Plan” for $47.45 monthly—a reference to his status as both the 45th and 47th president—and plans to launch his own smartphone as well, if his company can decide on a design for the $499 gold phone.

The MVNO market itself is booming, with global revenues expected to reach $142.9 billion by 2033, up from $83.5 billion in 2024. In the U.S. alone, the market is projected to grow from $13.1 billion in 2024 to $23.9 billion by 2033.

But MrBeast faces a unique challenge: his audience demographics don’t align well with phone-buying habits.

The buying power of MrBeast’s audience

His core viewership skews heavily toward ages 11-24, with the strongest concentration among middle schoolers through early university students. While this represents a massive potential customer base, most of these viewers aren’t the ones making purchasing decisions about phone service.

Recent surveys reveal that among Gen Z adults aged 18-24—MrBeast’s prime demographic—only about 27%-32% pay for their own phone bills. The rest rely on parents or guardians. Even among the broader 18-35 age group, roughly 32% still have their phone bills covered by family. For teens under 18, who make up a significant portion of MrBeast’s audience, parental payment is nearly universal.

This demographic reality contrasts sharply with the financial independence typically required for MVNO success. While MrBeast’s influence is undeniable—his Feastables chocolate brand generated $250 million in revenue and $20 million in profit in 2024, actually outearning his YouTube operations for the first time—convincing parents to switch family phone plans based on their children’s YouTube preferences presents a different challenge.

MrBeast’s phone venture is part of a broader diversification strategy for Beast Industries, which is seeking $200 million in funding at a $5 billion valuation, Bloomberg reported. Beyond Feastables, the company has launched Lunchly meal kits with Logan Paul and KSI, operates MrBeast Burger ghost kitchens, and is exploring fintech and mobile gaming, according to the leaked pitch deck. But if MrBeast hopes to convert his massive fanbase into phone customers, it’s going to require either aging up his audience or convincing parents that a YouTube star’s phone service merits switching carriers.

For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing.