YouTube beats major US-based TV networks in ad revenue
YouTube viewers watch more than 250 million hours of video per day
Google-parent company Alphabet Inc on Monday revealed YouTube's advertisement revenue for the first time.
While this is the worst fourth-quarter revenue growth for the company since 2015, YouTube still managed to earn almost double ad revenue than the major US-based TV networks with an astounding $15 billion ad revenue in 2019.
US-based TV network NBC saw an ad revenue of $7 billion, CBS made $6 billion and Fox's advertising revenue gave them a profit of $5 billion.
To give it a perspective, this ad revenue is nine times what Google paid for YouTube in 2006.
But there's a catch. Alphabet says that most of the money generated through ad revenue of YouTube goes back to the creators.
Nonetheless, Alphabet CEO Sundar Pichai isn't worried about it in any way.
"There is significantly more room on [YouTube] monetization levels," he told AdExchanger.
YouTube's impressive ad revenue seemingly solidifies their status as a media heavyweight. They're one of the most popular sites for video, with more than 2 billion monthly users, reports Variety.
The report also states that YouTube viewers watch more than 250 million hours of video per day.
