Overview
- Alphabet broke out YouTube’s full 2025 revenue for the first time at more than $60 billion across ads and subscriptions, placing it ahead of Netflix.
- YouTube ad sales reached $11.38 billion in Q4 2025, up about 9% year over year but below the roughly $11.84 billion analyst consensus, with softer political ads cited.
- Paid subscriptions across YouTube Premium, YouTube TV and Google One now exceed 325 million, reflecting growing recurring revenue.
- Alphabet guided capital expenditures of $175 billion to $185 billion for 2026 to build AI infrastructure and support related products.
- Engagement and content signals include 200 billion average daily Shorts views, more than 1 million channels using AI creation tools daily in December, record NFL Sunday Ticket paid subscribers on YouTube, and exclusive Oscars rights beginning in 2029.