In colloquialism, we can hear there's a lot even for plural nouns, so I even heard this can be settled as formal grammar. In strict grammar, 1 might be wrong, but we can't deny 1 is as common as 2.
So can we accept 1 as a formal one?
1.There is a lot of reasons why Charlie(Keannu's English name) is trying to study English so hard.
2.There are a lot of reasons why Charlie is trying to study English so hard.
In speech, you will hear a lot of people say "There's a lot of ..." but generally only using the contraction. Most of them would agree that "There is a lot of" sounds wrong but they don't seem to hear the same problem with "There's ..."
Remember - if you don't use correct capitalisation, punctuation and spacing, anything you write will be incorrect.
You will hear people say There's two reasons why Charlie is trying to study English, but it would not be acceptable formally- it's colloquial and many would consider it wrong.