YouTube continues to lead the streaming market as advertising revenue increased by 13% year-on-year, according to Alphabet's Q2 financial report (goal company Google) recently released. YouTube's total advertising revenue reached 9.8 billion USD, up from 8.7 billion USD in the same period last year.
This figure exceeded analysts' expectations, with YouTube's second quarter advertising revenue forecast at about 9.6 billion USD.
Over the years, YouTube has been trying to gain more TV advertising market share, especially as the number of viewers on TV has increased. A recent report from Nielsen shows that YouTube has held the leading position in terms of TV viewing time for 3 consecutive months, accounting for 12.4% of the total time users spend on television.
With YouTube's breakthrough, rival streaming services such as HBO Max and Amazon Prime Video have increased their advertising strategies, boosting the number of displayed ads to boost growth.
Netflix is also emerging as a notable competitor, especially after announcing at last week's shareholders' meeting that it would double advertising revenue this year. Although the official figures have not been released, an analyst from Madison & Wall estimates Netflix's advertising revenue at around $30 billion.
YouTube's success shows the platform's increasingly solid position in the digital advertising ecosystem, especially as the habit of watching video content on TV is becoming more and more popular.
In the context of competitors accelerating investment in advertising and content, YouTube is still proving its ability to maintain stable growth momentum, while playing an important role in Alphabet's revenue growth strategy.
