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YouTube is a proven juggernaut that rivals Netflix in the streaming wars

Google’s parent company Alphabet delivered another monster earnings report Tuesday. One of the brightest bits came from YouTube, which booked a whopping $7 billion in advertising revenue last quarter.

When we talk about the winners and losers in the streaming wars, the focus is primarily on the subscription services like Disney+, Netflix and HBO Max. But ever since Alphabet started breaking out YouTube’s performance early last year, it’s become clear it should be right there in the mix with the rest.

YouTube is not only a streaming video juggernaut that continues to report mind-bending growth, it is also turning into a key rival to the paid services that dominate the conversation around the future of television. And it has plenty of room to grow.

Take a look at some of the key points we’ve learned about YouTube’s growth recently:

Quarterly revenue is on a par with Netflix, and it’s growing at a faster rate. Alphabet said YouTube booked $7 billion in ad revenue last quarter. That’s up 83% from the year-ago quarter. Compare that to the $7.34 billion in revenue Netflix booked during the same period. Netflix’s revenue grew 19.4% from a year ago.

Also, practically all of Netflix’s revenue comes from subscriptions. Alphabet only reports YouTube’s advertising revenue, not revenue from subscription products like YouTube TV and YouTube Premium.

YouTube’s television viewing is growing faster than ever. While the vast majority of YouTube consumption happens on phones, computers and tablets, Alphabet reported huge growth over the past year in people watching on television sets.

The company said 120 million people watched YouTube on a TV last month, up from 100 million per month last year. Philipp Schindler, Google’s chief business officer, said on the company’s earnings call Tuesday YouTube on TV is “the fastest growing consumer surface that we have.”

It’s the strongest

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