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YouTube generates $5bn in ad revenue for Google in Q3
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Top Stories |
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IANS | 30 Oct, 2020
YouTube brought in $5 billion in advertising revenue in the third
quarter of 2020, signaling that there has been a rebound in advertising
revenue for both Google and YouTube. YouTube now has over 30
million music and premium paid subscribers, and over 35 million
including those on free trials. YouTube TV now has more than 3 million
paid subscribers.
"As a sign of the times, views for guided
meditation videos are up 40 per cent since mid March, while DIY face
mask tutorials have been viewed over 1 billion times," informed Alphabet
and Google CEO Sundar Pichai.
"Onto YouTube, people come to
YouTube for entertainment, information and opportunities to learn
something new," Pichai said during the conference call on Thursday.
Ruth Porat, CFO of Alphabet and Google said that consumers are showing strong demand across nearly all verticals.
"YouTube
advertising revenues were $5 billion, up 32 per cent year-on-year,
driven by ongoing substantial growth in direct response, followed by a
rebound in brand advertising from increased spending by advertisers,"
she informed.
Google's advertising division brought in revenue of $37.1 billion, an increase from $34 billion last year.
YouTube ads revenue increased 30 per cent from $3.8 billion in the third quarter of 2019.
"Within
YouTube's subscription revenues, we continued to benefit from
subscriber growth across its various offerings," Porat said.
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