Photo Credit: Alexander Shatov
YouTube generates more ad revenue than Disney, NBC, Paramount, and Warner Bros. Discovery combined, and dwarfs its rivals in TV viewership.
New research from media firm MoffettNathanson has determined that YouTube is now the world’s biggest media company, with advertising revenue that exceeds that of its four largest traditional media competitors—Disney, NBC, Paramount, and Warner Bros. Discovery (WBD)—combined. The Google-owned streaming giant also runs circles around its rivals in U.S. TV viewership.
It’s a significant change from 2024, when YouTube’s ad revenue clocked in at $36.1 billion, just behind the $41.8 billion total from Disney, NBC, Paramount, and Warner Bros. Discovery.
YouTube’s $40.4 billion in ad revenue last year exceeded the $37.8 billion combined from its four closest traditional media competitors. But with the addition of fifth-place rival Fox, the traditional media companies would be just ahead of YouTube at $44.8 billion.
The Google-owned streamer keeps nearly half of its ad revenue, paying creators a 55% cut on ads from standard videos. But ad revenue isn’t the only area in which YouTube is dominating in 2025 and onward.
The company also generated more viewership on TV in the U.S. in January than Disney, NBC, Paramount, and WBD’s streaming services combined, per data from Nielsen. In that arena, Netflix is the only paid streamer that rivals YouTube’s 12.5% share, with an 8.8% share in TV viewership—but Netflix isn’t yet a major player in the ad revenue space.
Further, YouTube brought in nearly $22 billion in subscription revenue in 2025, driven largely by live-TV service YouTube TV, ad-free tiers YouTube Premium and YouTube Music, and the NFL Sunday Ticket service for football fans. Google hopes to further speed up that growth with the addition of cheaper bundles for YouTube TV, including a sports-focused package.
While YouTube is now technically the world’s biggest media company by its ad revenue, that revenue still pales compared to Meta, which generated a staggering $196.2 billion in ad revenue in 2025. YouTube’s parent company, Alphabet, also made an eye-watering $224.5 billion last year from search ads alone.
But the worst part for the Hollywood media giants is that YouTube is uniquely positioned to thrive as AI-powered videos and short-form clips proliferate. According to MoffettNathanson analysts Michael Nathanson and Robert Fishman, YouTube is “one of the only” media companies that “will become stronger in the age of AI.”
