This article first appeared on GuruFocus.
Alphabet’s (NASDAQ:GOOG) YouTube may now be the biggest media business in the world, highlighting how technology platforms are increasingly reshaping the entertainment landscape. Research compiled by MoffettNathanson indicates that YouTube generated about $62B in revenue in 2025, slightly surpassing Disney (NYSE:DIS) Media’s roughly $60.9B. The milestone suggests the video platform has moved ahead of traditional Hollywood giants as digital distribution and creator-driven ecosystems continue to expand across global audiences.
The platform’s rise traces back to Google’s $1.65B acquisition of YouTube in 2006, a deal that came during the early stages of online video’s growth. Over time, the service evolved from a simple video-sharing site into a vast entertainment hub spanning music, podcasts, television, sports, and live events. Today, YouTube records trillions of views annually and operates with a dual-revenue structure that combines advertising with subscription offerings, a model that researchers say supports its scale and resilience.
MoffettNathanson estimates that if YouTube were ever separated from Alphabet as a standalone company, the business could potentially be valued between $500B and $560B, or roughly eight to nine times its 2025 revenue. At that level, the platform’s value would exceed the combined market worth of several major Hollywood players, including Disney, Comcast (NASDAQ:CMCSA), Warner Bros. Discovery (NASDAQ:WBD), Sony (NYSE:SONY), and Paramount Skydance (NASDAQ:PSKY). The research also suggests that ongoing advances in generative AI may allow creators to produce more impactful content while improving targeting and monetization tools across the platform.
