In 2025, YouTube generated $40.4 billion in ad revenue. That alone would be a major milestone for a streaming platform. But the real headline is what that number eclipses: the combined ad revenue of Disney, NBCUniversal, Paramount, and Warner Bros. Discovery totaled just $37.8 billion. YouTube—with its primarily user-generated content—surpassing the major studios in ad revenue signals a major shift in the media landscape.
The Ad Revenue Turning Point
The latest financial estimates come from media research firm MoffettNathanson. According to Business Insider, in 2024 YouTube’s ad revenue was $36.1 billion. That was short of the $41.8 billion total from Disney, Comcast’s NBCU, Paramount, and WBD. YouTube is not just growing—the tide of advertiser dollars appears to be turning toward new media.
MrBeast on his YouTube channel – YouTube, MrBeast
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Unlike traditional studios, YouTube does not rely on a limited pipeline of expensive productions. The platform operates as an open ecosystem where millions of creators produce content simultaneously. Instead of betting billions on a few blockbuster projects each year, YouTube’s model allows constant experimentation and near-infinite supply. That scale attracts audiences—and increasingly, advertisers.
YouTube pays its creators 55% of the ad revenue generated from standard videos. But advertising is only part of YouTube’s revenue engine. The platform also operates a substantial subscription business, which includes YouTube Premium, YouTube Music, NFL Sunday Ticket, and YouTube TV. Its growing influence prompted MoffettNathanson to declare YouTube the “new king of all media.”
Audiences Shift Away From Traditional TV
The shift is one legacy media companies have likely seen coming for years. In 2024, The Hollywood Reporter said “analysts at MoffettNathanson predicted YouTube TV would become the largest linear pay-TV provider in the U.S. by 2026.”
Comcast Logo – Comcast
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Traditional cable and over-the-air broadcasts are steadily losing momentum as audiences embrace digital platforms. YouTube is increasingly watched on televisions rather than just phones or laptops, turning the platform into a hybrid between streaming service and social network.
New Media Expands Beyond Entertainment
The move of audiences—and therefore advertisers—to YouTube may not simply be a matter of convenience. It is also changing how journalism itself can emerge. New media voices like Nick Shirley have leveraged the platform to report news that might otherwise be unavailable. His 42-minute documentary posted on X and YouTube alleging the misallocation of hundreds of millions in public funds in Minnesota has been viewed over four million times on YouTube.
Nick Shirley from his Minnesota fraud documentary – Nick Shirley, YouTube
While Shirley’s work raised objections from the legacy media, it also prompted public outcry and potentially a response from the federal government. Yet the scope of new media on YouTube extends far beyond investigative reporting.
The Engagement Factor
Audiences are seeking out many forms of entertainment on the platform, all curated to individual tastes and interests. Cooking and travel videos, film reviews and analysis, and more are available to audiences when and where they want them. The level of engagement creators can have with viewers—through Super Chats and social media—is something legacy media companies may struggle to replicate.
For decades, Hollywood studios controlled the economics of video entertainment. YouTube surpassing them in advertising revenue suggests that the center of gravity has shifted from studios to platforms. The biggest players in media are no longer just the companies producing content—they are the creators that shape it and the platforms that distribute it.
Why do you think audiences and advertisers are moving to YouTube? Let us know in the comments!
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I love watching YouTube on my TV and the reason for that is 100% because of the ads – when I can’t skip them, I simply mute them and distract myself until the timer runs out. I will never patronize YouTube advertisers, most of the products are tard garbage like Baerskin Hoodies or some kind of AG1 or Kachava drink mix garbage.
I fear that YouTube, run by Google, a globalist DEI mega-corp, will remove power from independents, and hand it over to Media companies (Left wing propagandists).
Some argue that Independents are already seeing their incomes dive.
Firefox + Ublock Origin ad-blocker does the trick. No ads.
Google shouldn’t be too bothered about ad-blocking, because people who hate ads are less likely to click on them, or pay attention to them, and oft even boycott the products advertised.