For viewers, YouTube might be TV. But for most TV advertisers, it isn’t.
Last week, YouTube reported that it generated over $60 billion in total revenue in 2025, marking the first time that the company has released combined ad and subscription revenue. The fourth quarter was also YouTube’s biggest ever for ad sales, coming in at roughly $11.4 billion.
That makes YouTube’s revenue larger than Netflix, which generated roughly $45 billion last year. YouTube has also surpassed Netflix in time spent and is now the No.1 TV distributor in the US, according to data from Nielsen.
But there’s a few things that Netflix—and traditional TV— have that YouTube covets.
One is big TV advertisers. Many of YouTube’s advertisers are small and medium-sized businesses that don’t generally advertise on TV, as Jasmine wrote in August and this Wall Street Journal article recently pointed out. That makes its ad business more similar to Meta Platforms and TikTok than TV.
The other is prestige. Netflix has managed to elbow its way into Hollywood, winning multiple Oscars and Emmy awards for original movies and shows like “Roma” and “Adolescence.” This year, YouTuber Ms. Rachel was nominated for an Emmy—but only after her show went to Netflix. “It’s a powerful start, but we need to see more recognition like this,” YouTube CEO Neal Mohan said about the nomination in his annual letter.
YouTube has been ramping up its efforts to court big TV advertisers and gain legitimacy as a premium entertainment platform. That includes nabbing the rights for the Oscars starting in 2029 and introducing premium ad packages such as “Cultural Moments” that allow brands to sponsor YouTube activities around events like the Super Bowl or Black Friday.
To supercharge its strategy, YouTube could give original content another go. A slate of original creator-led programming would give YouTube more premium, predictable content to sell to TV advertisers—and carve out a place in Hollywood.
YouTube shuttered its “Originals” program in 2022, which provided funding to creators to develop content for the platform. Executives have since said it won’t return to original content.
But it’s all about timing and execution. Now, YouTubers like Dhar Mann are developing and distributing more scripted, serialized content on their own, while series like “Hot Ones” and “Good Mythical Morning” have become akin to TV talk shows. People are also watching YouTube videos on TV screens, including during primetime viewing hours.
It’s also no longer unthinkable that top creators could leave YouTube. Under the terms of Netflix’s deal with Spotify, for example, podcasters can no longer post full episodes on YouTube, putting pressure on the company to retain its stars.
Most importantly, legacy brands and media companies now want to be on YouTube as they seek to expand their audiences and be part of culture. The BBC, for example, just struck a deal with YouTube to develop original content for the platform. YouTube also exclusively streamed an NFL game in Brazil in September.
A big part of that is helping brands get closer to creators. “There’s just more and more appetite from our clients to work with creators. It could be casting creators as talent in ads. It could be integrating into creator shows. We're also helping our clients navigate top creators as they seek to forge long-term creator partnerships,” Brian Albert, managing director of YouTube media partnerships and creative works, told us.
Of course, funding original programming is expensive and finding enough YouTube creators who make or could make suitable content will be a challenge. But there are other ways that YouTube could approach original content, including exclusive or licensing deals with big creators or backing independent studios, instead of developing individual shows.
And if there was ever a time to try again, it’s now.
(For more from our interview with Albert, including the company’s pitch to TV advertisers and why the company doesn’t want to revisit original content, tune into our podcast on Thursday.)
In other news…
⛷️Creators Hit the Winter Olympics
While Alix Earle and MrBeast were in the stands at the Super Bowl, a different crop of creators jetted off to another major sporting event: the Winter Olympics.
Cleo Abram, the creator behind the tech YouTube channel “Huge if True,” is one of 25 creators invited by NBCUniversal to attend the 2026 Milan Cortina Winter Olympic Games. She’s been posting a steady stream of content, from an in-depth video defending curling to a selfie of her watching speed skating. It’s an effort by NBC, which airs the Olympics, to reach fans “everywhere.”
But it’s not just creators who are posting. As we’ve seen from past Olympics, athletes competing in the games have been breaking out as influencers themselves. This time, some of them are being asked to post like creators.
Both the Professional Women's Hockey League and the NHL are encouraging players to spend more time creating content on the ground, the business of sports publication Sportico reported. The PWHL, for example, has given its player pointers for how to create engaging content on Instagram and TikTok, including recommending they film tours of the dining hall, their rooms and the athletes’ village.
It seems every sport is trying to find the next Ilona Maher, the US Rugby player whose career and social media following skyrocketed following the 2024 Summer Olympics.
The Round Up
Spotify stock jumped about 15% on Tuesday after reporting better-than-expected earnings for the fourth quarter. Monthly active users also rose 11% to 751 million while premium subscribers grew 10% to 290 million compared to a year earlier.
Chappell Roan, the pop singer, said she is no longer represented by Wasserman after the talent agency’s founder Casey Wasserman was named in newly released documents about sex offender Jeffrey Epstein. Last month, Wasserman said he is “terribly sorry for having any association with either of them,” referring also to Epstein associate Ghislaine Maxwell.
Instagram is testing a disappearing photo feature called “Instants” that's similar to Snapchat, a Meta spokesperson confirmed to Scalable. It’s also working on an internal prototype for a standalone app of Instants, though it’s not testing it currently. The test was first spotted by reverse engineer Alessandro Paluzzi who often finds unreleased features from major companies.
TikTok signed a deal with Qatar’s government communications office to establish a multi-year program to “identify and support global creative talent.” It’s the latest move by a Middle Eastern country to expand into the creator economy as the region looks to diversify beyond oil. (To hear Kaya’s takeaways from WebSummit Qatar—and watch her attempt to ride a camel—check out last week’s podcast).
Runway, an AI video startup, raised $315 million in Series E funding led by General Atlantic at a $5.3 billion valuation.
Regulatory Woes
The European Union preliminarily found that TikTok’s “addictive” design is illegal, including its never-ending feed, push notifications and its hyper-personalized recommendations. Regulators said TikTok needs to change the basic design of its service or it will face large fines. TikTok said it plans to challenge the findings.
Brand Buzz
Microsoft and Google have offered creators between $400,000 and $600,000 for sponsorship deals extending several months to promote their AI tools, CNBC reported. Microsoft, for example, has tapped top creators like Alix Earle to plug its Copilot chatbot. But other creators have turned the offers down, per CNBC.
American Eagle launched a new ambassador program which allows creators to earn points by completing weekly and monthly challenges, such as posting videos of how to style clothing. Creators can then redeem points for rewards such as products and gift cards.
Talent Tracker
Kathleen Grace was appointed as Lionsgate’s first chief AI officer. Previously, Grace was chief strategy officer at Vermillio, an AI startup that licenses and protects IP and likeness.
Eve Konstan is the new chief legal officer of SiriusXM. Most recently, Konstan was general counsel at Spotify.
Amit Puntambekar, an alum of Meta and Atlassian, is Reddit’s new executive vice president of consumer engineering. Jim Squires was promoted to chief marketing officer and Laura Nestler to executive vice president of community. Reddit’s previous CMO Roxy Young left in July.
Kecia Steelman, CEO of Ulta Beauty, was appointed to Pinterest’s board of directors.
Christopher Erb is joining CAA’s brand consulting division. Erb is the founder of video game marketing consultancy Tripleclix. Staffers from his firm will also join CAA.
