Ad spending on YouTube in Q2 2024 grew at a double-digit clip to $8.66 billion, up 13% YoY, but fell short of analyst estimates of $8.93 billion. In Q1, ad sales were $8.1 billion, marking a 21% increase. While YouTube competes with primetime TV ad spending, which saw a 2.8% drop, Alphabet surpassed analyst expectations with $84.74 billion in revenue and $1.89 per share in earnings.
Netflix views YouTube as a competitor despite both being global streaming services. YouTube's subscription revenues from services like YouTube Premium and YouTube TV exceeded $15 billion in 2023. Netflix differentiates itself by making big creative bets that may not fit YouTube's model, showing a complementary relationship between the two.
YouTube emphasized its significant scale during the Brandcast event, with viewers watching over 1 billion hours of content on TV screens daily. Nielsen's report ranked YouTube with the highest share in streaming, showcasing its dominance in the online video space.
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