YouTube’s Earnings Hard To Watch

Three big questions re: YouTube:
1) How much advertising revenue did YouTube generate last year?
2) Why did advertising revenue growth decelerate?
3) What share of total TV time does YouTube account for?

Big question #1: How much advertising revenue did YouTube generate last year?

YouTube advertising revenue (YoY growth):
1) 2017 – $8.2B
2) 2018 – $11.2B (↑ 37%)
3) 2019 – $15.1B (↑ 36%)
4) 2020 – $19.8B (↑ 31%)
5) 2021 – $28.8B (↑ 46%)
6) 2022 – $29.2B (↑ 1%)

Big question #2: Why did advertising revenue growth decelerate?

Quick answer: There should be rapid growth in advertising revenue due to the explosion in streaming TV use.  This has not happened (yet).

Why this matters: A lack of open data/measurement complicates integrating YouTube into a convergent TV media plan.

Bottom line: Linear TV advertising grew faster (↑ 3%) than YouTube (↑ 1%).

Big question #3: What share of total TV time does YouTube account for?

Quick answer: YouTube accounts for 9% of total TV time and 23% of streaming TV time.

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