YouTube has announced that its Premium and Music subscribers have now exceeded 150 million globally, signaling continued strong growth for the platform's subscription services. This milestone comes as the video giant reported its third-quarter ad revenue, which reached $11.2 billion, marking a 9% increase year-over-year.
Despite the subscriber growth and increased ad revenue, parent company Alphabet's overall third-quarter financial results fell short of Wall Street's expectations. This led to an 8% drop in Alphabet's stock in after-hours trading. While YouTube's ad revenue saw a 9% rise, the growth rate was slower compared to previous quarters and trailed behind the significant sales boom experienced by Google Cloud.
YouTube Premium Subscribers Surpass 150 Million Amidst Q3 Ad Revenue Growth
3 stories · 3 sources
Sources
- YouTube Ad Revenue Rises 9% But Parent Alphabet Misses Wall Street’s Q3 Targets; Stock Drops — Deadline,
- YouTube Premium and Music Subscribers Pass 150 Million as Ad Revenue Tops $11 Billion in Q3 — The Hollywood Reporter,
- YouTube Q3 Ad Revenue Growth Slows, Rising 9% to $11.2 Billion, as Alphabet Misses Earnings Estimates — Variety,