MoffettNathanson: $62B revenue overtakes Disney — valued at up to $560B — as the Creator Studio Era officially opens and Hollywood converges with YouTubers in both directions
YouTube has officially claimed the title of the world's largest media company. Research firm MoffettNathanson, in a report released March 9, 2026, confirmed that YouTube's 2025 annual revenue reached $62 billion (approx. ¥9.3 trillion) — surpassing Disney's media-segment revenue of $60.9 billion for the first time. The firm applied an 8–9x revenue multiple to estimate YouTube's enterprise value at up to $560 billion (approx. ¥82 trillion), positioning it as the new apex player above all traditional media giants. This is not simply a revenue ranking reversal.
Jung Han
It is a structural declaration that 20th-century media power — built on pay-TV and movie theaters — has fully migrated to open, AI-integrated video platforms combining subscriptions, advertising, and creator ecosystems. Simultaneously, it marks the formal opening of the 'Studio Era,' in which creators evolve from running channels to operating independent studios and media companies.