YouTube Delivers $8.1 Billion in Ad Revenue During Q1, a 20% Increase
YouTube delivered nearly $8.1 billion in ad revenue during its first quarter of 2024. The company revealed the figure during Alphabet’s first earnings call of the year.
That figure is an over 20% year-over-year jump from ad revenue in 2023. During the first quarter of 2023, ad revenue for YouTube was reported to be roughly $6.7 billion. It’s also a jump from Wall Street’s predictions. Wall Street estimated that ad revenue for the division would be $7.7 billion. The actual ad revenue numbers were 5% higher than than prediction.
YouTube creation has also seen a lift. “In 2023, more people created content on YouTube than ever before,” Phillip Schindler, senior vice president and chief business officer for Google, said on Alphabet’s earnings call.
Additionally, the number of channels uploading YouTube shorts grew 50%, and the company recently hit over 3 million channels. Its YouTube Partner Program has also paid out “more than any other creator monetization platform,” Schindler said. Over the last three years, the program has paid out $70 billion to creators, artists and media companies.
More to come ….
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