Episode
GOOGLE & DISNEY EARNINGS BREAKDOWN
- Podcast
- The Media Odyssey
- Published
- Feb 5, 2026
- Duration seconds
- 1967
- Processing state
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Summary
Google crushes expectations even as YouTube slows, and Disney names a CEO to distract from its numbers. Welcome to The Media Odyssey Live! In this live earnings coverage episode, Evan Shapiro and Marion Ranchet break down Google and Alphabet’s Q4 2025 wins and Disney's less positive performance. The conversation reveals surprising shifts in where advertising dollars are flowing, with mobile and social platforms capturing growth that once went to traditional video platforms. Rather than celebrating wins, the hosts dig into what the numbers actually reveal about maturing products, shifting consumer behavior, and the growing challenge of competing across multiple devices and formats. The episode is a reality check on how even dominant players like YouTube are facing headwinds, while free ad-supported platforms are quietly gaining massive ground against premium subscription services. Key Takeaways: 1. Google Beat Expectations But YouTube Growth Is Slowing Google beat expectations on both top and bottom line, with cloud revenue growing 48%. However, YouTube revenue growth in Q4 was less than 10%, missing expectations for the first time in recent memory. This signals YouTube is becoming a maturing product, with the majority of Q4 advertising upside going to TikTok and Meta instead. Despite the slowdown, YouTube's full-year revenue outpaced Netflix's total revenue, and Google now has the same number of subscribers across Premium, Music, and Red as Netflix has total subscribers. 2. Mobile and Social Are Outpacing TV in Ad Spending A record $13 billion in midterm political advertising is coming in 2026, with the majority of growth going to mobile-first, targeted advertising on platforms like Instagram and TikTok rather than traditional TV or even Connected TV. The money that us…