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November 17, 2020 07:34 pm

YouTube Launches Audio Ads and Ad-Targetable Music Lineups, Taking Aim at Spotify

YouTube claims to be the world's biggest jukebox -- and now it wants to wring more ad dollars from the platform's music fans. From a report: The video giant is launching 15-second audio ads, the first format designed to reach YouTube users who listen to music or podcasts ambiently (i.e., in the background). YouTube also is introducing the ability for advertisers make buys across dynamic music lineups, including the Top 100 charts by country and collections of channels in popular genres such as Latin, K-pop, country, rap and hip-hop. Marketers also can buy ads targeted by moods or interests like fitness or relaxation/meditation. YouTube expects the moves to boost ad revenue it generates from music on the platform, which includes over 70 million official tracks plus remixes, live performances, covers and other music content. And it stands to put YouTube in more head-to-head competition with Spotify, which has been selling audio-only ads and offering targeting by music genres for years. Lyor Cohen, global head of music for YouTube, positioned the new ad push as "trying to help artists in the industry earn more revenue from ads -- period." YouTube's focus on increasing advertising revenue for music content ultimately benefits its record label partners and their artists, he said. "Subscription revenue is important, and now [music companies] understand the advertising opportunity," said Cohen. "They love that we're building muscle on both sides."

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