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YouTube earned $5 billion in advertising revenue over the summer as the video streaming giant continues to see a boon amid the coronavirus pandemic.
The Susan Wojcicki-led company’s third quarter revenue was up 32 percent compared with the same period a year earlier, helping to drive a 14 percent increase in overall quarterly revenue for parent company Alphabet.
CFO Ruth Porat acknowledged the increase in advertiser spend for Alphabet’s Search and YouTube groups in a statement.
Alphabet does not break out YouTube’s non-advertising revenue, which comes from subscriptions and other entertainment transactions, like movie rentals. Those revenues are reported as part of the “Google other revenues” line item, which contributed $5.5 billion during the period. On a call with investors, the company disclosed that 3 million people pay for YouTube TV, its $65 per month internet-enabled live TV bundle.
Alphabet began disclosing YouTube revenue in February of this year when it announced that the world’s largest ad-supported video platform had brought in $15 billion in advertising in 2019.
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