Google will take on the might of Spotify in the audio advertising stakes having released in beta its audio ads offer through YouTube.
The new advertising offer will see YouTube aim to help brands make more of the music run on the video streaming platform through audio-based creative. YouTube claims that over 50% of its logged-in viewers for music content will consume more than 10-minutes worth each day, making it a previously untapped but engaged audience for advertisers.
Alongside audio ads, the platform will also release other new services including the addition of ‘Dynamic Lineups’ which will be powered by advanced contextual targeting containing an audience-centric mix of content that matches brand sentiment requirements and the creation of music-focused channels based on genres such as hip-hop, K-pop and Latin music and based on moods or interests in order to help advertisers target music fans with more relevance.
In announcing the new offer, YouTube claimed one early tester, Shutterfly, used the product to influence purchase considering across shoppers and saw a lift of 14% in recall and 2% in favourability within its target audience.
“Conventional wisdom may be that because many people use streaming music services to listen rather than watch, they’re devoting lower levels of attention. This isn’t so for YouTube users. For them, music is more front and center than you might think,” commented Lyor Cohen, Global Head of Music, YouTube in a blog discussing the impact that Covid-19 has had on the music industry and the new offering from the company to meet online music consumption habits.
“As I talk to folks in the industry, I know there are often misconceptions about how people engage with music and music content’s ability to drive results. In all my years in the business I can tell you this: Music moves and shapes culture, communities, and people. For advertisers, 6 YouTube Internal Data, Global. 2019 it ’s a reliable and untapped way to capture audience that’s engaging with videos they truly love,” added Cohen.
YouTube Music claims to have over 2 billion logged-in views each month [June 2020] with over 70 million official tracks hosted on the platform. It also says it has currently over 30 million Music and Premium paid subscribed, with a further five million using the free trial option.