Google Reports 2 Billion Monthly Users for YouTube Shorts, Beating TikTok and Instagram Reels

YouTube Shorts surpasses 2 billion monthly users, outpacing TikTok and Instagram Reels

Google announced today that YouTube Shorts, the popular short-form video feature, now boasts over 2 billion monthly logged-in users. This milestone cements YouTube’s position as a leader in the short video format, surpassing competitors like TikTok and Instagram Reels. The impressive figure marks an increase from the 1.5 billion monthly logged-in users reported last year.

Strong ad revenue growth for YouTube drives Google’s Q2 2023 results

During its Q2 2023 results, Google revealed that YouTube generated $7.67 billion in revenue from ads, surpassing analyst estimates and experiencing a 4% year-on-year growth. This achievement underscores the effectiveness of YouTube as a platform for advertisers to reach a massive user base. Google is further enhancing its premium ad offering, YouTube Select, by adding 30-second unskippable ads.

Expansion of YouTube’s offerings beyond ads

In addition to its ad revenue growth, YouTube has been focusing on diversifying its offerings. One notable move is the recent introduction of pre-sales for the NFL Sunday Ticket subscription, set to stream in the upcoming season. YouTube has also partnered with Warner Bros. Discovery to provide a Max-NFL Sunday Ticket bundle on YouTube TV. These strategic collaborations aim to attract sports enthusiasts and expand YouTube’s value proposition.

YouTube’s global reach and premium plans

Google’s announcement highlighted YouTube’s expanding global presence, with an emphasis on Connected TV screens in the U.S. reaching 150 million individuals. Although no update was provided on the number of paid users across YouTube Premium and Music, last year’s figure stood at 80 million. Recently, YouTube adjusted its premium plan prices, increasing the individual plan by $2 and the Music plan by $1 in the United States.

Strong quarterly results for Google with positive growth

Google reported positive quarterly results, demonstrating growth in both ad and cloud revenues. The company’s Q2 2023 revenue amounted to $74.6 billion, a notable increase from the $69.7 billion generated in Q2 2022. Following this news, Alphabet shares experienced a nearly 7% rise in after-hours trading, indicating investor confidence in Google’s performance.

Ruth Porat promoted to key role overseeing Alphabet divisions

In a strategic move, Alphabet promoted Ruth Porat from Chief Financial Officer to the president and chief investment officer role. In her new position, Porat will be responsible for overseeing Alphabet’s various divisions, including self-driving company Waymo, health-focused Verily, and Google Fiber. This promotion emphasizes Porat’s integral role in driving Alphabet’s growth and innovation.

Conclusion

The soaring popularity of YouTube Shorts with over 2 billion monthly logged-in users highlights Google’s dominance in the short video format. With strong ad revenue growth, diversification of offerings, and an expanding global presence, YouTube continues to solidify its position as a leading video-sharing platform. Google’s impressive quarterly results further underscore the company’s overall financial strength. Additionally, with Ruth Porat’s elevation to a key leadership role overseeing Alphabet’s divisions, Google is poised for continued success and innovation in diverse industries.

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