2 billion monthly logged in Users watch YouTube Shorts - Google

 

According to Google, more than 2 billion monthly users who are logged in watch YouTube Shorts, giving it an advantage over rivals like TikTok and Instagram Reels. This figure is higher than the 1.5 billion monthly active users for YouTube Shorts that were revealed last year.

Google also revealed during the Q2 2023 results that YouTube generated $7.67 billion in revenue from advertisements, exceeding analyst expectations and showing a 4% year-over-year growth. Additionally, the business is adding 30-second skippable ads to YouTube Select, its premium ad service.

In addition to ads, the company is concentrating on a number of YouTube offerings. Pre-sales for the NFL Sunday Ticket subscription, which will stream in the fall, began in April. Additionally, YouTube and Warner Bros. Discovery have agreed to offer a Max-NFL Sunday TIcket bundle on YouTube TV.

According to Google, it is currently being viewed by 150 million Americans on connected TVs, with signs of expansion abroad. The company stated it had 80 million paid subscribers across YouTube Premium and Music last year, but during the Q2 2023 earnings call, it didn't give an update on the figure. Last week, YouTube increased the cost of the Music plan and the Individual Premium plan by $1 and $2, respectively.

Google reported strong quarterly results, with an increase in cloud and advertising revenues. The company earned $74.6 billion for the quarter that ended in June, up from Q2 2022's earnings of $69.7 billion. Shares of Alphabet increased by almost 7% in after-hours trading.

Ruth Porat was promoted by Alphabet to the positions of president and chief investment officer from chief financial officer. Porat will now be in charge of Aplhabet's other divisions, including Google Fiber, the health-focused Verily, and the self-driving company Waymo.