YouTube’s Bet on Music Will ‘Narrow the Gap’ in Audio Ads

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Eight months after the coronavirus pandemic shut down the United States, Ticketmaster accounts are still well-stocked with credits, a nagging reminder of concerts that never happened. Instead, music fans have had to turn to virtual shows: Radiohead released old concert tapings on YouTube while others, including Miley Cyrus and Phoebe Bridgers, streamed live benefits shows to support independent venues.With live concerts essentially impossible, music lovers have flocked to platforms such as Spotify, Instagram and YouTube. Artists have gone virtual too, and where there’s an audience, there are advertisers. Music fans are hungry for new content and experiences, so YouTube is doubling down on music features and expanding advertiser tools for its free services.YouTube introduced two new ad products on Tuesday: dynamic music playlists, which let brands buy against specific genres or music charts, and audio ads, which feature minimal or no imagery. The new ad formats are available in beta for all global advertisers on YouTube, but the audio ads won’t arrive on YouTube Music until next year. The platform did not say how much the ads cost.“When we look at the broader set of advertising opportunities, what we see is that big moments over …

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