If YouTube were a standalone business, it would be worth $475 billion to $550 billion, Wall Street analyst firm MoffettNathanson estimated.

MoffettNathanson’s Michael Nathanson writes in a March 31 note that YouTube should be officially crowned the “new king of all media,” with engagement topping all other media companies in February’s Nielsen Gauge report, and with 2024 revenue of $54.2 billion, second only to Disney. And he predicts that YouTube will surpass Disney this year.

YouTube, the video platform owned by tech giant Google (GOOGL), might be worth as much as $550 billion, according to MoffettNathanson. In fact,