YouTube surpasses $60 billion in revenue, topping Netflix Alphabet disclosed on Wednesday that YouTube generated more than $60 billion in revenue in 2025, marking the first time the company has publicly revealed the combined figures from advertising and subscriptions for its video platform. The milestone places YouTube ahead of rival Netflix, which reported $45.2 billion in revenue for the same year. "We continue to drive strong growth across the business. YouTube's annual revenues surpassed $60 billion across ads and subscriptions," CEO Sundar Pichai said during the company's Q4 earnings call. The disclosure represents a shift for Alphabet , which has historically only reported YouTube's advertising revenue separately rather than combining it with subscription earnings. Advertising Growth Slows Despite Record Quarter YouTube's fourth-quarter advertising revenue reached a record $11.38 billion, representing an 8.7 percent increase from $10.47 billion in the same period a year earlier. However, the figure fell short of Wall Street's expectations of $11.84 billion, missing analyst estimates by 3.8 percent according to Street Account. The slower-than-expected ad growth came despite YouTube's continued dominance in digital video. Google's chief business officer Philipp Schindler noted that YouTube Shorts now averages more than 200 billion daily views and is earning more revenue per watch hour than traditional in-stream ads in several markets, including the United States. Subscription Business Powers Broader Growth Alphabet's consumer subscription services have reached 325 million paid subscriptions, encompassing YouTube Premium, YouTube TV , YouTube Music , and Google One cloud storage. The figure represents an increase from 300 million subscriptions in the previous quarter. The subscription count matches Netflix's 325 million paid memberships, though the services are not directly comparable given Google's inclusion of cloud storage subscribers. Revenue from Alphabet's subscriptions, platforms, and devices segment reached $13.6 billion in Q4, up 17.2 percent from $11.6 billion a year earlier. Alphabet Crosses $400 Billion Annual Revenue The YouTube milestone contributed to Alphabet's broader financial success, with the company reporting total Q4 revenue of $113.8 billion, an 18 percent increase year over year. Full-year revenue reached approximately $403 billion, crossing the $400 billion threshold for the first time. Looking ahead, Alphabet announced plans to invest between $175 billion and $185 billion in capital expenditures in 2026, nearly doubling 2025 spending as the company seeks to meet growing demand for its AI products. YouTube has been integrating AI tools across its creator ecosystem, with more than one million channels using YouTube's AI resources daily in December 2025.
