Youtube premium users on average give creators more revenue per view than non-premium users. 55% of the premium revenue is split between the creators you watch.
In fact, it might be the highest monopoly tax in all of tech. Even Spotify only takes 30% from the same musicians who post the same music videos on each platform.
YouTube simply enjoys a classic network effects monopoly, and that’s why their margins are high compared to any other business in the S&P500.
For reference that's around the point Vimeo started pivoting to different strategies and blocking long content as they couldn't pay for the infra.
That's also around that time that Dailymotion went down the pipes with the French gov stepping in to save the remains.
YouTube thrived from there as creators and advertisers had nowhere else to go at that point. That's the dumping part.