Key Takeaways:
- YouTube is expected to surpass Disney as the largest media company by 2025.
- YouTube generated $54.2 billion in revenue in 2024, trailing only Disney.
- If YouTube were a standalone business, it could be worth between $475 billion and $550 billion.
- YouTube now accounts for 11.6% of time spent watching TV in the U.S.
- Adults aged 65+ are now 15.4% of YouTube’s audience, nearly doubling in two years.
- YouTube’s subscription revenue, including YouTube Premium and Music, topped $15 billion in 2024.
- YouTube TV has over 8 million subscribers and could become the leader in streaming by 2026.
YouTube’s Rise to the Top
In 2025, YouTube might become the biggest media company in the world, passing Disney. This news comes from MoffettNathanson, a Wall Street research firm. Right now, YouTube is already the second-largest media company, with $54.2 billion in revenue in 2024. Disney is still ahead, but only if you don’t count its theme parks and merchandise.
YouTube has been around for 20 years and is owned by Google. It’s not just popular for videos—it’s also making a lot of money. Michael Nathanson, a top analyst, says YouTube is becoming the leader in both engagement and revenue.
What Is YouTube Worth?
If YouTube were its own company, MoffettNathanson estimates it could be worth between $475 billion and $550 billion. That’s about 30% of Google’s parent company, Alphabet’s, current value. This estimate is based on how other companies like Netflix, Meta, and Disney are valued compared to their revenue.
In February 2025, YouTube became the #1 source of TV content in the U.S., beating traditional TV giants like Disney, Fox, and Netflix. This is the second time in a year that YouTube has taken the top spot.
YouTube’s Growing Audience
YouTube is getting more popular, and its audience is changing. While people of all ages use the platform, older adults (65+) are spending almost twice as much time on YouTube as they did two years ago. Today, this age group makes up 15.4% of YouTube’s viewers, almost as much as kids aged 2-11 (16.9%).
February 2025 was YouTube’s best month yet, with 11.6% of all TV-watching time in the U.S. dedicated to the platform. Streaming now makes up 43.5% of TV viewership, almost catching up to traditional TV, which is at 44.4%.
Making Money on YouTube
YouTube makes money from ads and subscriptions. In 2024, its ad revenue was $36.15 billion, up 15% from the previous year. Subscription services like YouTube Premium, YouTube Music, and YouTube TV also brought in over $15 billion.
YouTube now has 125 million subscribers for its Premium and Music services, up from 100 million a year ago. MoffettNathanson expects subscription revenue to grow faster than ad revenue as more people sign up.
In 2024, YouTube made $7.8 billion in operating income, with a 14% profit margin. By 2027, this could grow to $13.8 billion with an 18% margin.
The Future of TV on YouTube
More people are watching YouTube on TV screens. Neal Mohan, YouTube’s CEO, says users watch over 1 billion hours of YouTube on TVs every day.
YouTube TV, which has over 8 million subscribers, could become the leader in streaming by 2026. As traditional cable companies lose viewers, YouTube TV is expected to grow even more. This could also help YouTube negotiate better deals for content and possibly raise prices.
What’s Next for YouTube?
Michael Nathanson believes YouTube has a lot of room to keep growing. It’s not just about making more money from ads and subscriptions—it’s also about expanding into new areas, like becoming the top streaming platform.
If YouTube pulls this off, it could become even more dominant in the media world. With its massive audience and growing revenue, YouTube is on track to be the biggest media company by 2025.
YouTube’s journey from a small video-sharing platform to a global media giant is impressive. With its focus on innovation and reaching new audiences, YouTube is proving that it’s here to stay—and lead.
