Zend certified PHP/Magento developer

How to fix error when adding product videos in Magento 2.3.7?

Whenever I try to add a YouTube video to a product I get the following error:

Attention

Error: "Video cant be shown due to the following reason: The request cannot be completed because you have exceeded your quota."

A screenshot of the error is as follows:

Screenshot

I have tried changing the Google API key to a newly created API key but the error still occurs. I’ve cleared the cache and verified the new API key is being used (from checking the page source code). I have also tried with other videos but still the error occurs.

We are running Magento CE 2.3.7.

Can anyone suggest how to troubleshoot/fix this?