YouTube Reports $5B Q3 Ads, YouTube Music Passes 35M Subscribers
YouTube brought in $5 billion in ad revenue in the third quarter of 2020 according to a new filing from parent corp. Alphabet.
Overall Google and YouTune ads grew 14% from the previous year’s quarter. The rebound is a sign that advertisers who pulled back because of the coronavirus earlier in the year have returned.
Google’s streaming service YouTube Music reported a solid 35 million subscribers, including 5 million in the free trial phase.
“We’re pleased at the degree to which advertisers really reactivated their budgets in the third quarter,” said Ruth Porat, CFO of Alphabet and Google, in a call with analysts. “YouTube’s strong watch time growth enables advertisers to reach audiences they can’t reach on TV.” The company had made investments in content moderation to ensure both creators and users on YouTube have a positive experience, Porat said.