YouTube and other major social-media companies are appealing to advertisers this week—saying they represent the future of Gen Z’s entertainment.
Key Details
- On Monday, May 1, YouTube gathered advertising partners at Google’s Pier 57 in New York to discuss the future of advertising on the platform at its annual “NewsFront” event, Fortune reports.
- The theme of the event was “Gen-Z,” with the company pitching the idea that YouTube held the future of advertising for young adult entertainment and that advertisers can directly reach the younger generation through the service.
- 65% of Gen Z content consumers say YouTube helps them avoid “missing out on alot,” and 73% say it provides a variety of opinions for them.
- Snapchat, Meta, and TikTok will be hosting similar events this week to make similar proposals to advertisers as part of the Interactive Advertising Bureau’s 2023 NewFronts.
Why It’s Important
Social media has become the primary way that millions of young people interact with the world. Some 80% of TikTok users are between the ages of 16 and 34, and 40% of Gen Z uses TikTok and Instagram instead of search engines to search for information.
While YouTube is in a distant second compared to TikTok, the online video-sharing platform is still a vital part of how young people seek entertainment and engage with the world, particularly for long-form video content and personality-driven content.
As YouTube creator Jon Youshaei emphasized at Monday’s event, “Gen Z comes to YouTube for the creators and the authentic connection they have with them.”
YouTube put much of its event pitch on the role that YouTube Shorts is going to play in the future of the company. YouTube is one of many apps that has added short-form video features to compete with TikTok—including Facebook and Instagram. The company is adding new features to spread “awareness” and “reach,” Fortune notes.
“I do think it’s kind of funny that we’re already referring to traditional YouTube video as long-form because shorts are actually in the DNA of YouTube,” says Google VP Kristen O’Hara.
