YouTube touted its unparalleled reach and audience targeting precision at its annual Brandcast event on Wednesday, aiming to attract TV advertisers to its video platform.
According to YouTube, people now watch over 1 billion hours of its content daily on their TV screens, proving that the platform is a superior alternative to traditional TV viewing.
"We’re redefining what TV looks like, helping creators reach new heights and using AI (artificial intelligence) to expand creativity," Neal Mohan, CEO of YouTube, said in a statement.
"YouTube views in the living room have grown 130% in the past three years," he continued.
Nielsen reports confirm that YouTube has been the most-streamed platform on U.S. TVs every month since February 2023.
❤️ @YouTube is where viewers find all the content they love, all in one place. At U.S. #Brandcast, https://t.co/nYf2Tkht4E, https://t.co/7ogQr4dNYR, and a host of experts broke down what this means for brands.
— YouTube Advertisers (@YTAdvertisers) May 16, 2024
All the highlights are right here 👇https://t.co/uKdaq8Prkppic.twitter.com/M0wo2U7sRA
The social media giant also unveiled the formal launch and expansion of YouTube Select Creator Takeovers, a program that lets advertisers buy inventory on channels that represent the top percentile of content on the platform.
Beginning as a pilot with notable creators like Jason and Travis Kelce's "New Heights" podcast, the initiative allows brands to exclusively advertise on these select channels.
This means that when fans watch videos on these channels, they will only see ads from the brand that has purchased the takeover, enhancing advertisers' precision targeting.
"Our creators are the future of entertainment," YouTube chief business officer Mary Ellen Coe told the crowd.
"We’re adding more of our incredibly talented creators [to the YouTube Select Creator Takeovers program], including many you’ve seen here tonight, so you have even more choice when deciding which creators you want to work with," she continued.
Embracing the Future of Digital Advertising
Held at Lincoln Center's David Geffen Hall in New York City during TV upfronts week, Brandcast 2024 was packed with new announcements.
YouTube introduced a new AI-powered format that is optimized for connected TV, utilizing non-skippable ad assets across in-stream inventory.
Additionally, the company is launching branded QR codes for interactive ad placements.
Finally, Google and Scripps Sports will stream locally televised WNBA Friday night games on YouTube TV in the home and away markets of participating teams.
This means that YouTube TV is now the sole pay-TV provider that offers both local and national WNBA games this season, providing a new avenue to attract even more advertisers.
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Editing by Katherine 'Makkie' Maclang
