YouTube TV is reportedly Google’s fastest-growing product as it grew 48% in the past year. According to a report by Insider, leaked internal numbers spanning from October 2022 to October 2023 have shown this growth. The report notes that the data was offered by an internal Googlesystem called “Magic Eye”. This system tracks product growth and how it compares to competitors.Also, the growth of YouTube TV is more significant as it is a paid service.
The data also showed that the TV streaming service also saw the highest engagement on any Google product as well as the highest retention rate. As per the report, 52% of YouTube TV users were frequent, while only 8% of YouTube TV accounts lapsed during this period.
During the company’s Q3 earnings call in October, the president and chief investment officer of Alphabet, Ruth Porat also pointed out YouTube TV’s subscriber growth as a bright spot.
Google’s NFL bet may be the reason for the growth
The growth shown by YouTube TV might be the result of the bet that Google took with YouTube on the NFL Sunday Ticket. In 2017, the tech giant launched the YouTube TV service which offers a selection of linear and on-demand programmes.
The data also showed that the TV streaming service also saw the highest engagement on any Google product as well as the highest retention rate. As per the report, 52% of YouTube TV users were frequent, while only 8% of YouTube TV accounts lapsed during this period.
During the company’s Q3 earnings call in October, the president and chief investment officer of Alphabet, Ruth Porat also pointed out YouTube TV’s subscriber growth as a bright spot.
Google’s NFL bet may be the reason for the growth
The growth shown by YouTube TV might be the result of the bet that Google took with YouTube on the NFL Sunday Ticket. In 2017, the tech giant launched the YouTube TV service which offers a selection of linear and on-demand programmes.
In December, Google and the NFL announced a deal to stream most Sunday Ticket games on YouTube. The company is reportedly paying $2 billion a year for the package. NFL games will be available as an add-on for YouTube TV subscribers.
Google’s video streaming platform YouTube has also generated significant revenue for the company. In the last quarter, the unit reported $7.95 billion in ad revenue which was a 12.5% year-over-year increase.
The company’s internal data also concluded that TV was its fastest-growing form factor year-over-year. In an event in May, Google also announced multiple new TV-focused features for advertisers which include 30-second unskippable ads. However, these ads are limited to YouTube when watched on TV.
