Google announced today that more than 2 billion monthly logged-in users are viewing YouTube Shorts, giving it a competitive advantage over rivals such as TikTok and Instagram Reels.
This is an increase from last year’s announcement of 1.5 billion monthly logged-in users for YouTube Shorts.
Google revealed in its Q2 2023 financial results that YouTube generated $7.67 billion in advertising revenue, surpassing analyst estimates and registering a 4% year-over-year increase.
The company is also introducing 30-second ads that cannot be skipped to its premium advertising service YouTube Select.
In addition to advertisements, the company is concentrating on multiple YouTube offerings. In April, pre-sales of the NFL Sunday Ticket subscription, which will stream in the fall, were initiated.
YouTube has also partnered with Warner Bros. Discovery to offer a Max-NFL Sunday Ticket package on YouTube TV.
Google stated that it reaches 150 million individuals via Connected TV screens in the United States, with indications of global expansion.
During the Q2 2023 earnings call, the company did not provide an update on its 80 million paid users across YouTube Premium and Music, which was announced during the Q2 2022 earnings call.
YouTube increased the price of its individual premium plan by $2 and its Music plan by $1 in the United States last week.
Google’s quarterly results were positive, as ad and cloud revenues increased.
The company earned $74.6 billion in the quarter ending in June, up from $69.7 billion in the second quarter of 2022. In after-hours trading, Alphabet shares increased by nearly 7%.
In addition, Alphabet promoted Chief Financial Officer Ruth Porat to President and Chief Investment Officer.
With this promotion, Porat will oversee other divisions of Alphabet, including the self-driving company Waymo, the health-focused Verily, and Google Fiber.