Written by The Business Journal Staff
(AP) — YouTube has emerged as a break-out star in Google’s cast of services as the online video site upstages cable television among a younger generation of viewers looking for amusement, news and music on their smartphones.
The trend has been shifting a bigger chunk of advertising budgets from traditional network television programming to the more eclectic and diversified mix of clips ranging from cute cat videos to sobering shots of street violence found on YouTube.
As more advertising dollars flow to YouTube, it’s making the already hugely profitable Google even more prosperous. In a third-quarter report released Thursday, Google’s corporate parent, Alphabet Inc., said it earned $5.1 billion, or $7.25 per share, a 27 percent increase from the same time last year. Revenue climbed 20 percent to $22.5 billion.