Tuna Cetin
Tech giant Google announced today that over 2 billion logged-in monthly users are now watching YouTube Shorts, which marks a significant increase from 1.5 billion users the company reported last year.
The news comes at a time when the short-video race between TikTok, Instagram, YouTube, and Snapchat continues to gain momentum. These companies are constantly updating their products and introducing new features in an effort to lure more users. YouTube, for example, said this week that it’s testing a new feature to let viewers create Shorts featuring comments below the videos they’re watching.
While announcing its financial results for the second quarter of 2023, Google said that YouTube’s ad sales grew 4% YoY to $7.67 billion.
Also Read: YouTube Revenue and Usage Statistics
In Q2 2023, Google’s parent company Alphabet saw $74.6 billion in revenue, up from $69.7 billion in the same quarter of last year. Google Cloud services, on the other hand, brought $8.03 billion, and “Google other revenues”, which include revenues generated from the Play Store, hardware, and non-advertising YouTube revenue, reached $8.14 billion, up from $6.55 billion in Q2 2022.
Commenting on the financial results, Google & Alphabet CEO Sundar Pichai said: “There’s exciting momentum across our products and the company, which drove strong results this quarter. Our continued leadership in AI and our excellence in engineering and innovation are driving the next evolution of Search, and improving all our services. With fifteen products that each serve half a billion people, and six that serve over two billion each, we have so many opportunities to deliver on our mission.”
Google & Alphabet CFO Ruth Porat, who will now take on the president and chief investment officer role, said: “Our financial results reflect continued resilience in Search, with an acceleration of revenue growth in both Search and YouTube, as well as momentum in Cloud. We continue investing for growth, while prioritizing our efforts to durably reengineer our cost base company-wide and create capacity to deliver sustainable value for the long term.”
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