Netflix and YouTube have taken over traditional TV viewership—a trend that appears to be reaching even 96-year-old Warren Buffett.
Warren Buffett Turns to YouTube
No longer the CEO or chairman of Berkshire Hathaway (NYSE:BRK)(NYSE:BRK), Warren Buffett may have more hours to spend watching videos on YouTube, the video platform owned by Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL).
While many would picture Buffett reading a newspaper or watching the news, a report from the Wall Street Journal says Buffett has been spending more time watching videos on YouTube.
Buffett’s close friend Sharon Osberg told the Wall Street Journal more details on a recent visit to Buffett’s home in Omaha, Nebraska, where they spent hours watching videos on YouTube.
"Warren’s range is broad. It can be the silliest things," Osberg said.
Among the items watched by the duo on YouTube were:
- Glenn Close clips
- 1950s TV commercials
- Paul Anka videos
- Uzbekistan’s version of "America’s Got Talent"
"We watched a really good documentary on Roy Cohn,” Osberg added. “And the Uzbekistan version of America’s Got Talent."
Osberg said Buffett watches YouTube on TV from his recliner and, along with the recommended content in the viewing algorithm, also watches Berkshire Hathaway content. Buffett has also been watching old clips of his longtime business partner Charlie Munger, who passed away in 2023. This includes a 2018 talk at the University of Michigan, according to the report.
"You feel the bond between the two of them as he watches Charlie. It’s really quite something," Osberg added.
YouTube is the most-watched video provider in the U.S., and growth on TV sets is helping it reach new audiences like Buffett, beyond the millions who watch on phones and other streaming devices.
Outside of YouTube at night, Buffett has other viewing habits, including watching CNBC in the morning. Versant Media Group (NASDAQ:VSNT) owns CNBC, Buffett has been a guest on the channel from time to time.
Buffett also enjoys watching Turner Classic Movies, also known as TCM. The channel, which shows old movies, is now owned by Paramount Skydance (NASDAQ:PSKY). The channel regularly features one of Buffett’s favorite films, "12 Angry Men," which stars Nebraska native Henry Fonda.
Berkshire Wins From YouTube
Before stepping down as CEO, Buffett invested in Alphabet stock and turned the company into one of Berkshire’s largest holdings.
At the end of the second quarter, Alphabet Class A shares (GOOGL) were the fourth largest holding at $28.2 billion and 9.4% of assets. Class C shares (GOOG) were the 10th largest holding at $9.6 billion and 3.2% of assets.
Together, the stakes were worth around $38 billion at the end of the second quarter and were one of the top holdings in the Berkshire Hathaway investment portfolio.
Image via Shutterstock
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