YouTube revealed last week that ad sales rose 13% year on year to $8.7 billion, while connected TV (CTV) views increased 130%, illustrating the platform’s enormous potential for marketers.
YouTube is crucial to digital advertising, including Shorts, its primary short video platform that competes with TikTok and Instagram Reels, and its expansion into CTV.
According to EMarketer’s February 2024 forecast, 241.8 million people will watch YouTube this year, accounting for 90.4% of all digital video watchers in the United States.
YouTube is the most popular app among US smartphone users, according to Comscore statistics from January 2024, ahead of Facebook, Instagram, and any of Google’s other services.
According to EMarketer’s June 2024 forecast, mobile accounts for 41.2% of all time spent on YouTube in the United States.
In January 2024, social media marketers worldwide told Hubspot and Mention that YouTube outperforms Facebook, Instagram, TikTok, and X regarding audience targeting.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
