YouTube posted record-breaking ad revenue in 2025, generating an estimated $40.4 billion.

The research by Moffett Nathanson shows that the figure surpasses the combined advertising revenue of four major Hollywood players, Disney, NBC, Paramount, and Warner Bros. Discovery—which collectively earned $37.8 billion last year.

The shift underscores how dramatically content consumption has evolved and how advertisers have adjusted their strategies.

YouTube’s 2025 ad revenue not only exceeded the combined earnings of the four major Hollywood studios but also represented a significant turnaround from the previous year.

In 2024, YouTube generated $36.1 billion in ad revenue, falling short of the $41.8 billion collectively earned by Disney, NBCUniversal, Paramount, and Warner Bros. Discovery. This year, however, the tables have decisively turned.

For decades, these studios reigned supreme, captivating audiences with blockbuster films and hit TV shows. Yet shrinking linear TV audiences and soaring production costs are weighing on traditional media.

Meanwhile, YouTube is racing ahead, building momentum that even big investments in studio streaming platforms struggle to match.

Last month, parent company Alphabet reported that YouTube’s total revenue for 2025 surged to $60 billion.

A significant portion now comes from subscriptions, including YouTube TV, YouTube Premium, YouTube Music, and NFL Sunday Ticket.

By comparison, this figure surpasses Netflix’s reported $45.2 billion in revenue for the full year, highlighting YouTube’s expanding dominance across both ad-supported and subscription-based models.