YouTube increased advertising revenues by 33% year-on-year in Q1, 2020 to $4.038 billion (£3.24bn).
The increase was revealed in results for Alphabet, parent company of Google and YouTube.
However, the company warned that advertising revenue slumped during March during the global lockdown.
“Performance was strong during the first two months of the quarter, but then in March we experienced a significant slowdown in ad revenues,” said Ruth Porat, CFO of Google and Alphabet. “We are sharpening our focus on executing more efficiently, while continuing to invest in our long-term opportunities.”
Alphabet first issued figures for YouTube last year in the company’s 2019 results, with advertising revenue up 36% on 2018 for the video platform at $15.15bn (£12.15bn).
The company does not break out figures for YouTube Music. All YouTube subscription services come under Other Revenues, which increased by 22% year-on-year to $4.4bn (£3.5bn).
Alphabet reported overall revenue of $41.16bn (£33.02bn), up 13% year-on-year.