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YouTube (GOOGL+1.28%) surpassed both Disney (DIS-1.20%) and Netflix (NFLX-1.27%) in share of total TV viewership time last month — and it could overtake Disney in revenue as well this year, according to a Wall Street analyst.
The streaming service of Google’s parent Alphabet should be “officially crowned the new king of all media,” MoffettNathanson analyst Michael Nathanson wrote in a note to clients on Monday, according to The Hollywood Reporter.
In 2024, YouTube generated $54.2 billion in revenue — making it the second-largest media company by revenue. Excluding its parks and experiences division, Disney’s media revenue totaled $59.7 billion. Warner Bros. Discovery (WBD-4.47%) and Netflix followed, each bringing in about $39 billion.
YouTube’s rise in the rankings comes as traditional media companies continue to navigate the shift to streaming. Nathanson highlighted key areas where YouTube is excelling, including engagement, advertising, and subscriptions.
Ads remain YouTube’s biggest moneymaker, with revenue exceeding $36 billion in 2024. Its subscription business, which includes YouTube Premium, YouTube Music, and NFL Sunday Ticket, is growing. And YouTube TV is on track to become one of the largest pay-TV providers in the U.S.
In February, YouTube surpassed both Disney’s streaming platforms and broadcast channels, with its share of total TV viewing time rising 2% to reach a record 11.6%, its highest level to date, according to Nielsen’s February 2025 Media Distributor Gauge,
By contrast, Disney, which operates the Disney+, Hulu, and ESPN+ streaming service, saw its share decline by 2 percentage points to 10%, losing the top spot for only the third time since Nielsen introduced the report in 2023.
YouTube’s also has an expanding presence on non-computer screens. Time spent watching the service on TV has increased by 53% since February 2023. Older audiences have driven much of this growth, with viewing time among adults aged 65 and older almost doubling over the past two years.