With IAB’s NewFronts 2023, the world’s largest digital content marketplace, having commenced on May 1, YouTube has rolled out new ad formats to its short-form feature Shorts as part of its presentation.
All the big names from the industry, including YouTube, Meta, Snap, TikTok, and Amazon, participated at this year’s IAB’s NewFronts. Liza Koshy, a YouTube star who made it big with longer videos, hosted the event.
With Shorts at the centre of its pitch, YouTube is attempting to persuade marketers that shorts are an effective way to build brands and drive sales.
Similar to Meta's reels, YouTube shorts do not generate as much revenue for the platforms as more developed ad products. The advertising revenue generated by YouTube was $6.7 billion in the first quarter of 2023, a 2.6% decline year on year. According to YouTube, 1.5 billion people log in and watch shorts each month.
Also, YouTube attempts to demonstrate to advertisers that it can create a safe environment in an otherwise chaotic short-video landscape. YouTube promoted celebrities' "I am your mother" dance challenges as examples of Shorts culture.