YouTube Shorts: 2 Billion Monthly Logged-in Users Can't Get Enough! | Google News 2023

Google's short-video platform, YouTube Shorts, has achieved a significant milestone, surpassing 2 billion monthly users who are logged in. This user base gives YouTube Shorts a competitive advantage over rivals like TikTok and Instagram Reels. The latest figure reflects a notable increase from the 1.5 billion monthly logged-in users reported last year.

In the second quarter (Q2) results of 2023, Google disclosed that YouTube generated $7.67 billion in advertising revenue, marking a 4 percent growth compared to the same period in the previous year.

Alphabet, the parent company of Google, reported overall revenue of $74.60 billion and net income of $18.37 billion, or $1.44 per share, for the three months ending on June 30.

CEO of Alphabet and Google, Sundar Pichai, attributed their continued success to leadership in AI and excellence in engineering and innovation. He expressed optimism about the future of Google's services, pointing out that fifteen products serve at least half a billion people, while six products cater to over two billion users each. Pichai also highlighted YouTube's reach, with more than 150 million people in the US accessing the platform via connected TV screens, and noted the international growth and momentum YouTube is experiencing.

Last year, Google introduced advertising on YouTube Shorts, and the platform has evidently made strides since then.

Pichai also provided updates on YouTube Music and Premium subscribers, revealing that the services had amassed over 80 million subscribers as of late last year.

Ruth Porat, CFO of Alphabet and Google, explained the decision to raise prices on both services, citing significant subscriber growth as the reason. The company aims to continue investing in growth while simultaneously working on reengineering its cost base to deliver sustainable long-term value.

In a strategic move, Alphabet and Google have appointed Ruth Porat to the newly created role of President and Chief Investment Officer, effective September 1, 2023. While serving in this capacity, she will continue as CFO and will lead the company's 2024 and long-range capital planning processes until her successor is chosen.

Pichai praised Porat for her contributions in driving financial discipline and shareholder returns while making investments to create long-term value. The company remains committed to building upon this progress and continuing its vital work.