YouTube‘s latest impact report estimates that in 2022, its creator ecosystem contributed more than $35 billion to the U.S. gross domestic product and supported the equivalent of over 390,000 full-time jobs.
YouTube has commissioned these reports from Oxford Economics for years to track the effects it has on the United States’ economy. 2022’s financial impact of $35 billion is a significant jump from 2021’s $25 billion, but YouTube actually fell in the number of full-time job equivalents: in 2021, it supported an estimated 425,000.
Still, it pointed out that it saw an increase in YouTube Millionaires–that is, channels with over a million subscribers–of 15% from 2021 to 2022, as well as a 5% increase in the number of channels making $100,000 or more annually. 83% of creators surveyed for this year’s study agreed that YouTube “provides an opportunity to create content and earn money that they wouldn’t get from traditional media.”
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The study also found that 78% of small businesses using YouTube agreed that the platform is essential to their business’s growth.
“YouTube continues to have a transformative impact on American society,” Tara Walpert Levy, Vice President for YouTube’s Americas business division, said in a statement. “The unique community of YouTube creators has driven economic growth and created entirely new and ever-expanding opportunities. Creators are today’s entrepreneurs who build businesses, hire employees and power the economy. We are proud to provide them with tools that help unlock their dreams, creative expression, and earning potential.”
“It’s difficult for people to fully grasp just how much value YouTube’s creative ecosystem generates for the country, but our research helps shine a light on the significant impact generated by U.S. creators and businesses on the platform,” Hamilton Galloway, Oxford Economics’ Director of Economic Impact for the Americas, added.
You can see YouTube’s complete 2022 impact report here.