YouTube under-monetized on TV despite leading in streaming minutes

The news: YouTube is no longer just a social video platform—it’s a media juggernaut. According to MoffettNathanson, the Google-owned platform pulled in $54.2 billion in revenues in 2024, second only to Disney. In 2025, it’s expected to take the top spot, excluding Disney’s theme parks and product revenues.

• MoffettNathanson estimates YouTube is worth $475–$550 billion as a standalone business—roughly 30% of Alphabet’s total value.
• The equity research firm believes subscription revenues, led by YouTube TV and YouTube Premium, crossed $15 billion in 2024.