Little more than two decades old, Alpha’s YouTube service has been crowned the world’s largest media company by a prominent research firm.
Financial research firm MoffettNathanson has estimated that the streaming service, which reportedly earned $60 billion in revenue in 2025, actually brought in $62 billion last year, which would exceed The Walt Disney Co.’s $60.9 billion revenues earned in its media business in 2025.
MoffettNathanson had already crowned YouTube as the “new king of all media” and values the streaming service at an estimated $500-560 billion, which outpaces its closest rival, Netflix, with a current market cap of just under $509 billion.
Article continues belowYouTube earned more than $40 billion in ad revenue in 2025 and also takes in revenues from its subscription services, which include YouTube Premium, YouTube Music, NFL Sunday Ticket, and the YouTube TV virtual multichannel video service, which has about 10 million in subscriptions. YouTube says it has paid $100 billion to creators, music companies and media partners.
The researcher says the streaming service shows no signs of slowing down.
“Over the next few years, unlike almost any other asset we cover, we strongly believe that YouTube will be a major beneficiary of both the structural tailwinds and headwinds facing technology and media companies,” Michael Nathanson wrote in his report.
