The news: YouTube has cemented itself as the largest global media platform and a major driver of ad revenues, per a MoffetNathanson report cited by The Hollywood Reporter.

• The Google-owned platform made over $60 billion in 2025 revenues, per its full-year earnings release. MoffetNathanson now estimates $62 billion in revenues that place YouTube ahead of The Walt Disney Co.’s media business ($60.9 billion, excluding Disney’s experiences division).
• YouTube’s current valuation falls between $500 billion to $560 billion, well above its competitors. Its closest rival is Netflix, with a market cap around $409 billion.
• YouTube’s ad revenues surpassed $40 billion in 2025—greater than the combined $37.8 billion from NBCUniversal, Paramount, Warner Bros. Discovery, and Disney, according to Techcrunch.

Zooming out: Other findings reaffirm MoffetNathanson’s claims. YouTube is the most popular media platform in the US, with users spending 11.4 billion minutes daily with the platform, per our forecast. That’s above Netflix (10 billion minutes), Facebook (5.4 billion), and Instagram (4.7 billion).