YouTube Poised to Overtake Disney as Top Media Giant in Revenue

YouTube is on track to become the world's highest-grossing media company, potentially surpassing Disney, according to a new Wall Street forecast. In 2024, the Google-owned video platform generated an impressive $54.2 billion in revenue, solidifying its place as the second-largest media company by earnings. Meanwhile, Disney’s media revenue, excluding its theme parks and experiences, reached $59.7 billion. Other key industry players, including Warner Bros Discovery and Netflix, both recorded around $39 billion in revenue.

YouTube’s Rise: Analyst Predicts ‘New King of Media’

A recent report by MoffettNathanson analyst Michael Nathanson, seen by The Hollywood Reporter, highlights YouTube’s potential to reshape the media landscape. He stated:

“YouTube has the potential to become the central aggregator for all things professional video, positioning itself to capture a share of the $85 billion consumer Pay TV market and the ~$30 billion streaming ex. Netflix market in the US. Looking ahead, we expect subscription revenue growth to continue to outpace advertising, driven primarily by subscriber additions. However, with no further price increases factored into our model, we anticipate a gradual slowdown in subscription growth as net additions moderate, particularly for YouTube TV. As a result, we forecast YouTube’s total revenue growth to settle in the low- to mid-double-digit range from 2025 through 2027. This trajectory – and the potential to inflect the trend upward – underscores why we explore YouTube’s monetisation dynamics and the untapped opportunities that lie ahead in the sections below. In our view, the opportunity is ripe for the taking.”YouTube’s Three Key Revenue Streams Driving Growth

The report emphasizes that YouTube's success is fuelled by three major revenue channels:

• Advertising: Generated over $36 billion in 2024.
• Subscription Services: YouTube Premium, YouTube Music, and other paid offerings are seeing strong subscriber growth.
• YouTube TV: Now one of the largest pay-TV providers in the U.S., surpassing 8 million subscribers.

This analysis follows YouTube’s recent milestone of overtaking major streaming platforms, including Disney and Netflix, in total TV viewership share. According to Nielsen’s latest Media Distributor Gauge report, YouTube accounted for a record 11.6% of all TV viewing, dethroning Disney from its top position.