Google isn't seeing any profits out of YouTube, according to The Wall Street Journal. The video streaming giant that Google has pushing out billions of views of cat videos, DC Toy Collector unwrapping various toys and chocolates, and more pulled $4 billion of revenues in 2014. This is up from $3 billion in 2013.
YouTube's revenues were up $1 billion last year most likely because of Google introducing premium ads in the form of "Google Preferred". Business Insider reports that YouTube's main problem is that "people generally only watch its videos when they're embedded in other sites", but I don't know if that claim is really what happens out in the real-world.
Google now wants people to begin visiting YouTube's homepage in the same fashion that they turn the TV on, expecting to view high-quality content across various channels, again, in the same way they would on TV. This is a big part of the reason it has been signing over big checks to original content creators, in the hopes it will pull over more viewers.