Giant YouTube revenue from advertising and subscriptions passed $60 million last year while ad sales for the latest quarter rose 9% to $11.38 billion.
Executives on a call after parent Alphabet reported earnings, touted sub gains in YouTube Premium and YouTube Music as well as Google One for more than 325 million paid subscriptions across all consumer services.
Alphabet said total revenue jumped 18% to $113.8 billion, reflecting strong momentum across Services and Google Cloud, and ahead of Wall Street forecasts.
Services revenues rose 14% to $95.9 billion, led by 17% growth in Google Search and 17% in Google subscriptions, platforms and devices.
Google Cloud saw a continued increase in customer demand for the quarter as revenues increased 48% to $17.7 billion.
Alphabet stock flopped after market on a massive ramp up in capital expenditures for AI, where the company’s Gemini has seen a sharp increase in engagement.
Creators on YouTube are increasingly using is AI tools, and AI is transforming advertising, executives led by CEO Sundar Pichai said on a call after the numbers.
They noted that YouTube remains the no. 1 streamer in the U.S. Rival Netflix is leaning on the platform’s dominance to bolster its proposed acquisition of Warner Bros. with regulators.
YouTube Shorts averages 200 billion daily views.
Executive touted YouTube TV’s new sports tier, saying it “was proving to be a popular choice.” The parent company is so massive it doesn’t break out many numbers.
There has been some entertainment related news outside of earnings. The Oscars are concluding a decades-long run with ABC and Disney to head to YouTube in 2029, following the streamer’s first-ever NFL game last fall. The company has also been campaigning for creators to get Emmy recognition. YouTube TV is a sizable player in the pay-TV sector as one of the top three providers in the U.S. It is introducing a skinny sports bundle and genre specific packages.
A popular YouTuber Markiplier just made history with his independent film Iron Lung opening to $18 million at the domestic box office.
The company has been flexing as a tough negotiator for its Live TV platform, triggering blackouts with a handful of media majors. Disney Monday unveiled a $110 million hit in the December quarter from a carriage fight.
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