YouTube Led Google's 22% Growth, $26 Billion Q4. Maybe They Can Share More Of It With The Music Industry?
The music industry has recently its ire recently on YouTube and its payments to rightsholder. In a quarterly earnings call this week, the CFO of parent company Alphabet (aka Google) provided the music industry their best talking point yet.
On Thursday, Alphabet Inc. (NASDAQ: GOOG, GOOGL) announced financial results for the quarter and fiscal year ending December 31, 2016.
(We've added the bold.)
“Our growth in the fourth quarter was exceptional - with revenues up 22% year on year and 24% on a constant currency basis. This performance was led by mobile search and YouTube. We’re seeing great momentum in Google’s newer investment areas and ongoing strong progress in Other Bets,” said Ruth Porat, CFO of Alphabet.
Overall, Google earned $26 billion in Q4.
Now, maybe they can share a little more of it with the music industry...