Source: https://blog.google/products/ads-commerce/youtube-music-audio-ads
YouTube is launching a new audio-only ads, targeting users primarily listening to podcasts and music on background. Advertisers will have an ability to target users based on music genre (e.g., rock, rap, pop, etc.) they listen, and their interests (e.g., motivational, "gym music", etc.). YouTube claims that during their alpha trials 75% of audio ads resulted in a significant increase in brand awareness of advertisers.
I think these news are particularly worrisome for such audio and podcast streaming services as Spotify and Pandora, both of which generate generate substantial ads revenues of $0.7bn and 1.2bn per year through audio ads, since YouTube's impressive trial results and likely an aggressive expansion into audio-only ads clearly intensifies its competition against them.
However, it is not only music and podcast streaming services who should worry but all marketing platforms. Considering vast amount of data Google already possesses and the recent news of YouTube incorporating shopping functionality (https://www.bloomberg.com/news/articles/2020-10-09/google-tries-to-turn-youtube-into-a-major-shopping-destination), Google has high chances of becoming the one-stop advertisement platform in future
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