Google Stock Isn’t Exactly Beating Markets, But YouTube’s FIFA World Cup Engagement Shows Why It’s Still A Powerhouse

More than 550 million viewers watched on television screens, with the Spain-Argentina final averaging 21 million viewers per minute.

• YouTube recorded its most-watched FIFA World Cup, drawing more than 1.7 billion unique global viewers.
• World Cup content has generated over 200 billion lifetime views on YouTube.
• The final drew a combined 62.8 million U.S. viewers across Fox, Telemundo and Peacock, while Fox’s tournament average more than doubled from 2022.

Shares of Alphabet, Inc. (GOOG, GOOGL) may not be beating the broader market this year, but YouTube’s record-breaking FIFA World Cup engagement is a reminder that one of Google's biggest competitive advantages isn't search alone, but the massive advertising and creator ecosystem powering the world's largest video platform. 

GOOG stock has gained over 10% so far this year, slightly trailing the Nasdaq Composite’s 11% rise, while modestly outperforming the S&P 500.

YouTube Records Its Biggest FIFA World Cup Ever 

“The numbers are in. Our most viewed World Cup ever,” Alphabet CEO Sundar Pichai said on X as YouTube wrapped up its biggest tournament to date. YouTube CEO Neal Mohan echoed the milestone, calling it “an unforgettable FIFA World Cup” after more than 1.7 billion unique global viewers watched tournament-related content on the platform.

The event generated more than 200 billion lifetime World Cup views on YouTube, while a select cohort of creators contributed over 2.5 billion views through commentary, reactions, and other fan-driven content. The inaugural YouTube FIFA Creator Cup added another 10 million-plus live views.

The tournament also highlighted YouTube's growing dominance on the biggest screen in the house. More than 550 million viewers watched World Cup content on television screens, while official broadcasts of the Spain-Argentina final across more than 40 markets averaged 21 million viewers per minute and peaked at over 27 million concurrent viewers.

Spain-Argentina World Cup Final Shatters US TV Records

Traditional broadcasters also delivered a historic tournament. Spain’s 1-0 victory over Argentina averaged 38.9 million viewers on Fox, making it the most-watched soccer telecast in U.S. television history. Telemundo and Peacock added another 23.9 million, bringing the combined U.S. audience to 62.8 million. 

Across all 104 matches, Fox, FS1 and Tubi averaged 7.74 million viewers, more than double the 2022 tournament average of 3.59 million and well above 2018’s 2.77 million, Variety reported.

YouTube Creators Drive 2.5B World Cup Views 

YouTube’s creator ecosystem was also important to the scale of reach. Its official creator roster, with a combined audience of 350 million subscribers, generated over 2.5 billion views during the tournament. Creators transformed each match into a continuous stream of reaction videos, tactical breakdowns, livestreams, comedy and Shorts.

The first YouTube FIFA Creator Cup, held July 12 in New York’s Central Park, featured creators including IShowSpeed and Celine Dept alongside former FIFA players. It generated more than 10 million live views across FIFA’s channel, participating creators and broadcasters. FIFA’s official channel also added more than 7.5 million subscribers and generated over 4 billion views between June 11 and July 19, lifting its subscriber base above 34 million.

Morningstar Sees A Wide Moat Around YouTube

The World Cup performance reinforces Morningstar’s thesis on YouTube. Just last week, the research firm assigned YouTube a wide economic moat, citing its strong network effects and intangible assets. 

“Wrapped within Alphabet, YouTube is a streaming giant with an impressive brand, user base, and burgeoning advertising and subscription businesses,” Morningstar said. The firm said that YouTube’s vast audience attracts creators, whose content brings in more viewers and advertisers, reinforcing a self-sustaining growth flywheel. 

Morningstar expects the platform to deliver low-double-digit growth over the next five years, driven by its advertising and subscription businesses.

How Do Retail Traders Feel About GOOG?

On Stocktwits, retail sentiment for GOOG has flipped to ‘bullish’ from ‘bearish’ levels a week ago amid a 57% jump in 24-hour message volumes.

GOOG stock has risen 82% over the past year. 

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