How much ad revenue does YouTube generate – Q2 2024 earnings
Alphabet just reported their second quarter 2024 earnings, including the revenue generated by YouTube ads and subscriptions.
Google and YouTube’s parent company, Alphabet just posted their Q2 2024 earnings. YouTube’s ad revenue for the second quarter closed at $8.66 billion, up 13% year-over-year, but short of Wall Street expectations. Analysts estimated YouTube’s ad revenue would hit $8.93 billion, based on FactSet’s StreetAccount. In comparison, Q1 2024 ad revenue was at $8.1 billion, up 21% year-over-year.
According to estimates by iSpot.tv, primetime TV ad spending on US networks for the first half of 2024 reduced by 2.8% year-over-year.
Ad revenue does not include subscripion revenue, such as YouTube Premium. YouTube and Google subscriptions generated more than $15 billion in revenue in Q2 2024. This is a combination of YouTube Premium, YouTube Music and YouTube TV subscriptions. Unfortunately, Alphabet doesn’t break down these numbers further.
In terms of televisions streams, in May at their annual Brandcast event, YouTube reported more than one billion hours of content is streamed on TV screens every day. YouTube holds the number one share in streaming watch-time every month on American TVs since February 2023, according to Nielsen.
As a whole, Alphabet beat analyst expectations in Q2 2024, generating $84.74 billion, up 13.6% year-over-year. Earnings per share are at $1.89. According to LSEG, estimates were placed at $84.19 billion in revenue and EPS of $1.84.