A record high of $7 billion in advertising revenue has been reported this week by YouTube’s parent company, Alphabet, exceeding expectations.
The details from an earnings call, which took place with analysts this week, revealed Google’s video platform saw ad revenue grow nearly 84%, up from $3.8 billion a year ago.
During the call, CEO of Google and Alphabet, Sundar Pichai said:
“In Q2, there was a rising tide of online activity in many parts of the world, and we’re proud that our services helped so many consumers and businesses,”
“Our long-term investments in AI and Google Cloud are helping us drive significant improvements in everyone’s digital experience.”
Over half a million YouTube channels had live-streamed in 2020 including “artists performing in their living rooms and churches moving their services online.” Pichai outlined the growing success of YouTube Shorts, the platform’s Tik-Tok equivalent short form feature for smartphones. He announced that it is now generating over 15 billion global daily views, up from 6.5 billion in March.
Sundar Pichai also highlighted that over $30 billion has been paid out to creators, artists and media companies in the last three years. He stated that the platform had paid more to creators and YouTube partners than in any other quarter in history of the company.
He went on to say:
“Videos in our new shorts player are receiving 3.5 billion daily views. We are looking forward to expanding shorts to more countries this year.”
If you need advice on your YouTube channel please get in touch with one of the Starbox team.