YouTube topped Netflix in terms of quarterly revenue, with the Google-owned video platform delivering $8.6 billion in advertising revenue in Q4, the company said Tuesday. The Hollywood Reporter reports: For fiscal 2021, YouTube delivered $28.8 billion in advertising revenue. In the same quarter a year earlier, YouTube delivered $6.9 billion in advertising revenue, underscoring the continued explosive growth of the platform. For comparison, Netflix delivered $7.7 billion in revenue in Q4 in 2021, compared to $6.6 billion a year earlier. Overall, Alphabet, Google’s parent company, reported $75.3 billion in revenue for the quarter, and $257.6 billion for the year, with Google search advertising still making up the lions share of revenue.
With regard to YouTube, the executives cited commerce as a potential growth area for YouTube, with CEO Sundar Pichai calling it “a whole other layer of opportunity.” “Podcasts, gaming, learning, sports, across all of these areas we will take a vertical specific look and find out how we can support creators better,” he said. “While pretty early, there is a lot of pilots under way,” he added, noting that they were “super early” into testing how shopping could be baked into YouTube Shorts, its TikTok-esque shorts platform, which Pichai said now has more than 5 trillion views. The executives also called out YouTube’s connected TV opportunity.
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