YouTube's advertising revenue increased by 13% year over year, reaching $9.8 billion in Q2, slightly exceeding analyst expectations. YouTube has been working to capture a larger share of television ad revenues, especially as it became the largest platform for TV viewing, accounting for 12.4% of total audience time. In response to YouTube's success, competitors such as HBO Max, Amazon Prime Video, and Netflix have ramped up their advertising strategies. Alphabet reported total revenue of $96.4 billion, also reflecting a 13% year-over-year growth.
YouTube's advertising revenue for Q2 reached $9.8 billion, a 13% increase from last year's $8.7 billion, exceeding analyst expectations of $9.6 billion.
YouTube accounted for 12.4% of the total audience time spent watching television, holding the largest share of TV viewing for three consecutive months.
Rival streaming services like HBO Max and Amazon Prime Video are enhancing advertising strategies in response to YouTube's market dominance and revenue growth.
Netflix, aiming to double its advertising revenue, is emerging as a stronger competitor, with estimates of its ad revenue around $3 billion.
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