As Alphabet closed its Q3 2024 financial report, it was reported that YouTube is doing very well. From the latest investor relation earning calls, YouTube's combined ad and subscription revenue has surpassed $50 billion for the first time ever.
Yes, despite the recent YouTube Premium membership price hike, the report says YouTube TV, NFL Sunday Ticket, and YouTube Music Premium are driving subscription growth for the platform. YouTube Ads revenues grew 12% year-on-year thanks to branding and content creators as they are "driving robust growth in watchtime across the platform".
Google will continue to focus on helping creators to thrive with AI. Thanks to Gemini, the language models now have a better understanding of video content and viewers' preferences. This resulted in improving and recommending other relevant, new and personalised videos to the viewers. It is also said the number of creators making the majority of their YouTube revenue on TV screens is up more than 30% year-on-year.
YouTube Shorts is also doing extremely well, particularly in the U.S. and other "highly monetizing markets". According to the report, 70% of channels are uploading Shorts. Shorts video duration has also been increased to three minutes long from a minute now as a top-requested feature.
In other news, more people are using YouTube as a "premier destination for sports watching". It was very evident during the Olympics 2024, which garnered over 12 billion views on YouTube, with more than 850 million unique viewers watching over 40 billion minutes of content, with 35% on their TV screens. The NFL Sunday Ticket on YouTube TV is also well received by the fans, NFL and advertisers.
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