YouTube currently accounts for 15.8% of total US television viewing time, according to August data from Nielsen. This figure places the platform ahead of Disney, which holds a 9.3% share, and Netflix, which maintains 7.7%. Despite this market position, YouTube does not have its own stock ticker, as it operates as a subsidiary of Alphabet.
Investors seeking exposure to YouTube must purchase Alphabet shares, which are available in two classes: GOOGL, which includes voting rights, and GOOG, which does not. This investment also includes Alphabet’s broader business interests, such as search, cloud computing, and significant capital expenditure on artificial intelligence, which recently impacted the company's free cash flow.
Financial results for the third quarter show that YouTube generated $11.21 billion in advertising revenue, marking a 9% increase. This amount represents less than 10% of Alphabet’s total quarterly revenue of $127.6 billion. Following the release of these figures, Alphabet's share price experienced a decline.
Alternative investment options include tokenized shares such as GOOGLx, which trade on crypto platforms. However, these products are restricted for US residents and are issued under European regulations. Furthermore, recent SEC exemptions allow companies to object to the tokenized trading of their shares, with 33 firms having already exercised this right to block such activity.
