YouTube has crossed a major financial milestone.
Alphabet’s latest annual financial disclosure shows that the video platform generated more than $60 billion in total revenue during the last fiscal year, placing it ahead of Netflix in annual earnings.
The report marks the first time Alphabet has laid out YouTube’s full revenue picture, combining advertising with subscription-based income.
Historically, YouTube’s business has been discussed almost entirely in terms of advertising. That segment remains substantial, with ad sales accounting for a significant portion of overall revenue.
However, Alphabet’s filing makes clear that subscriptions now play a much larger role than in previous years. Revenue from YouTube Premium, YouTube Music, YouTube TV, and NFL Sunday Ticket is included in the company’s “subscriptions, platforms, and devices” category, which helped push YouTube past the $60 billion mark.
Alphabet reported that YouTube has exceeded 100 million paid subscribers across its premium offerings. Those subscriptions coexist with the platform’s free, ad-supported content, creating a dual-revenue model that differs from traditional streaming services.
While Netflix continues to rely primarily on monthly subscriptions, YouTube generates revenue from both advertisers and paid subscribers, spanning music, live television, and sports programming alongside user-generated content.
The filing also highlights where viewers are watching. YouTube remains the most-used streaming service on U.S. television screens. Alphabet attributed that reach to YouTube’s range of formats, including long-form videos, Shorts, live streams, podcasts, and live sports broadcasts.
In addition to subscriptions and advertising, Alphabet noted that YouTube benefits from its integration within the broader Google Services ecosystem. The platform supports creators through the YouTube Partner Program and serves as a distribution channel for premium content and licensed programming. This structure allows YouTube to monetize across multiple categories without relying on a single business line.
Alphabet’s disclosure provides a clearer comparison point between YouTube and other major streaming companies. With more than $60 billion in annual revenue now attributed to the platform, YouTube’s scale places it alongside the largest players in digital entertainment, based on total earnings reported for the year.