YouTube TV Remains Google's Fastest-Growing App With 6.5 Million Subscribers

According to 9to5Google, YouTube TV has apparently demonstrated that it has attracted more than 6.5 million members within the third quarter of 2023. This indicates that it is continuing its trajectory towards becoming Google’s product with the highest rate of growth.

According to the report, a recent study conducted by Leichtman Research Group reveals that as of the third quarter of 2023, YouTube TV has 6.5 million members, which represents an increase of 600,000 compared to the second quarter of 2022.

The reason for this is that YouTube TV has remained the most popular and rapidly expanding service, while Hulu has reached 4.6 million members, Sling TV has surpassed 2.1 million users, and Fubo is just short of 1.5 million subscribers. The most significant increase in adds was seen by Fubo, which accounted for 310,000 more customers than Sling TV, which experienced the slowest growth rate of all the alternatives.

Statistics from an internal Google system known as Magic Eye, which monitors the development of corporate products and how they perform in comparison to competitors, showed that YouTube TV increased by 48% between October 2022 and October 2023. This indicates that YouTube TV continues to maintain its dominant position in the months that have passed. This information was reported by Business Insider in November.

According to the findings of the research, the television streaming service of Google had the highest engagement rate and the highest retention rate of any product offered by Google. There were just 8% of YouTube TV accounts that had expired, and 52 percent of users were regular watchers, according to the announcement.

It has been said that the success of YouTube TV might be related to the recent collaboration that the company had with the National Football League (NFL) in December 2022. This partnership made it possible for the television streaming service to broadcast the bulk of Sunday Ticket games on YouTube. According to reports, Google is shelling out more than two billion dollars annually for the package, which is an add-on offer for consumers of YouTube TV.

YouTube TV’s Dominance

Google continues to rely on YouTube as a source of revenue regardless of the circumstances. Over the course of the previous year, the division’s advertising income increased by 12.5% to reach $7.95 billion during the most recent quarter. The growth in the number of subscribers to YouTube TV was cited as a positive development by Ruth Porat, president and head investment officer of Alphabet, during the company’s earnings call for the third quarter.

As reported by Business Insider, the form factor that experienced the most rapid annual growth was television, as indicated by the data that was collected internally by Google. The company apparently made it clear that it was taking advantage of this situation by launching a variety of new services for marketers that were centered on television. These services included adverts that could not be skipped and lasted for thirty seconds when YouTube was viewed on a television.

Cord-Cutting Worsens

As stated in the same 9to5Google post, this accomplishment and the continuous domination of television streaming services come as cable providers continue to see a loss of users.

It has been stated that cable companies had a decrease of 985,000 subscribers. On the other hand, online services such as YouTube TV have reportedly gained an estimated 1,327,000 users overall, while the industry as a whole has experienced a net loss of approximately 465,000 subscribers.

Apparently, this comes as a result of cable companies experiencing an unprecedented drop in the number of subscribers during the first quarter of 2023, as reported by Variety. According to reports, senior analyst Craig Moffett of SVB MoffettNathanson has stated that “We are watching the sun beginning to set.”

As a result of the ongoing decline in the number of subscribers, Variety reports that MoffettNathason believes that the trend of cord-cutting will only continue to become more widespread.