TV’s Comeback: YouTube TV Grows 48% in a Year
Back in the 1960s, people predicted that by the year 2000, we would have flying cars. Fast forward to today, and instead, we’re talking about the resurgence of TV.
According to a report from Insider, YouTube TV has been crowned as Google’s fastest-growing product in the past year, with a 48% growth between October 2022 and October 2023. This data comes from an internal Google system called “Magic Eye,” which monitors the growth of the company’s products and compares them with competitors. The 48% growth is particularly notable considering that YouTube TV is a paid subscription service.
But it’s not just the growth in new subscribers that’s impressive. The report also found that YouTube TV has the “highest engagement of any Google product as well as the highest retention rate,” with 52% of users being frequent viewers and only 8% of accounts having lapsed.
YouTube TV offers users the ability to watch live and on-demand TV from major broadcast and popular cable networks, with the Base plan providing access to over 100 TV channels.
Google’s partnership with the NFL and the announcement that most Sunday Ticket games would be streamed on YouTube seems to be paying off well for the company. The Wall Street Journal reported that Google was paying about $2 billion a year for the package, which is available as an add-on for YouTube TV subscribers.
Overall, YouTube continues to be a revenue generator for Google, with the platform reporting $7.95 billion in ad revenue in the last quarter, marking a 12.5% year-over-year increase.
