YouTube's ad revenue reached $10.47 billion in Q4 2024, marking a 13.8% increase from the previous year. This significant growth was primarily driven by U.S. election advertising, with political spending nearly doubling compared to the 2020 elections.


Alphabet's Q4 earnings report revealed that "subscriptions, platforms, and devices" revenue, including YouTube Music, totaled $11.63 billion, showing a 7.8% year-over-year increase. However, YouTube Music continues to lag behind major competitors in U.S. subscriber numbers, trailing Spotify, Apple Music, and Amazon Music.

Spotify maintains its market dominance with 263 million global subscribers as of Q4, despite facing numerous NMPA infringement claims. The company's stock reached a new record high, exceeding $630 per share, with UBS setting an ambitious target of $720.

YouTube has successfully leveraged video podcasts, overtaking Spotify in this segment and leading U.S. TV watch time. This achievement becomes particularly relevant as Spotify expands its video offerings, notably through its renewed focus on video podcast monetization announced in November.

While specific YouTube Music subscriber numbers remain undisclosed by Alphabet, the platform's strong ad revenue performance and growing subscription business suggest continued momentum in the digital media space. However, Alphabet stock (NASDAQ: GOOG) experienced a nearly 7% decline, closing at $193.30 per share.

Note: This rewritten version maintains all key information while presenting it in a more concise, search-engine-friendly format that directly addresses the core topics of YouTube's revenue performance and market position.

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