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518 Downbeat YouTube, Upbeat Spotify

The Information
Isabelle Sarraf @ The Information · 04/25/2023 18:49 EDT

Downbeat YouTube, Upbeat Spotify

Anyone looking for relief from the pall hanging over the advertising business didn’t find it in YouTube results Tuesday. The Alphabet-owned video sharing site, something of a bellwether for the creator economy, said YouTube’s ad revenue fell 2.6% to $6.7 billion during the first quarter compared with the same period a year ago. That was the third straight quarter of decline, and worse than the less-than-1% drop in Google’s total ad revenue. Executives blamed the economy and advertisers keeping a tight grip.

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