• by Wayne Friedman , May 28, 2025

YouTube -- already the dominant TV distributor in the U.S with a 12.4% share -- now commands an estimated 24% of U.S. CTV streaming minutes as of April 2025, according to estimates from MoffettNathanson Research.

Adding in minutes viewed on YouTube TV, the virtual pay TV provider (with 4% share) totaled 28% -- well above Netflix’s 15% share.

These results come from Nielsen and MoffettNathanson analysis.

YouTube (including YouTube TV) had 340 billion streaming minutes in April, while YouTube (excluding YouTube TV) was at 288 billion.

By comparison, Netflix came in at 177 billion. In the first quarter, YouTube had 27% total share, with Netflix at 17%.

“Just four years ago, Netflix was the undisputed leader, commanding 26% of all streaming minutes, said Michael Nathanson, co-founder/media analyst of MoffettNathanson. “The shift underscores YouTube’s growing dominance on the TV screen that is set to continue.”

“We agree with Neal Mohan [YouTube CEO] and believe this trend will only accelerate as YouTube continues to invest in both GenAI and its creator ecosystem," he added.

Mohan, speaking at a recent MoffettNathanson event, says connected TV (CTV) is the primary way viewers use YouTube, and it remains a major “priority” for growth.

One major area of focus is YouTube Shorts -- its short-form video clips -- which has seen major growth. YouTube Shorts were created in response to other short-form video efforts on TikTok and Meta Platforms’ Reels.

YouTube Shorts is projected to grow 19% to 108 billion daily views this year, and to increase another 12% next year to 120 billion.

In comparison to other platforms, among content creators, YouTube is well ahead of TikTok and Reels -- with four of the top five brands. The top brand is “Mr. Beast,” with 396 million followers.

MoffettNathanson estimates total advertising revenue on YouTube will grow to $40.1 billion in 2025, to $44.5 billion in 2026 and hit $49 billion in 2027. That’s a compound annual growth rate of 11% over a 2024 to 2027 three-year period.