As a hardcore gamer and tech enthusiast with over a decade of experience in the industry, I can’t help but be impressed by YouTube’s consistent growth in the video advertising market. Despite the overall struggle of the advertising industry, YouTube continues to dominate with a robust 13% annualized growth in Q2 2024.
Despite a challenging market for video advertising as a whole, YouTube continues to experience expansion in its own ad business.
On Tuesday, YouTube, which is owned by Google, announced a Q2 2024 advertising revenue of $8.66 billion. This represents a 13% increase from the $7.66 billion earned in the same period last year. However, this figure fell short of analysts’ predictions of $8.93 billion. Despite this, Alphabet as a whole surpassed Wall Street estimates.
As a gamer, I’ve noticed that while YouTube’s annualized growth rate for ad numbers has dropped by 20% compared to last year, it still outshines traditional media companies in this area. And with streaming giants like Netflix and Amazon Prime Video reportedly facing a slow market, it becomes clearer than ever that YouTube holds a strong position in the video advertising market.
At the corporate level, artificial intelligence continues to be a hot topic.
“This quarter’s excellent results showcase the robustness of our Search business and the growing impact of Cloud. We are continually advancing technology at all levels of artificial intelligence. With our long-standing infrastructure leadership and in-house research expertise, we are well-prepared as technology advances and we explore new opportunities.”
I was thrilled to learn that Alphabet’s total earnings reached an impressive $84.7 billion in the recent period, marking a significant increase from the previous year’s $74.6 billion. Notably, Google search took the lead in contributing towards this growth. Additionally, the subscriptions, platforms, and devices sector, which encompasses services such as YouTube TV, NFL Sunday Ticket, and YouTube Premium, generated an impressive revenue of $9.3 billion.
More to come.
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2024-07-23 23:24