The most popular YouTube video ever is "Baby Shark" with 16.4 billion (regrettable) views. South Korean firm Pinkfong is behind the song and will IPO tomorrow at a ~$375m valuation. In 2024, revenue across the entire business hit $67m with an operating profit of $13m. Pinkfong's sales are impacted by YouTube's limits on the monetization of "Made for Kids" content (one study found its ad revenue would be 2-3x higher based on normal settings). The company should explore a revenue stream in which parents can pay to never hear the song again.

More from WSJ (including stat that Baby Shark has same-ish views as Taylor Swift’s top 10 songs combined on YouTube):