To help you reach more potential customers, your ads will now show on content that matches any of the topics, placements or display/video/search keywords you target. For example, if you targeted 'bikes' as a topic and 'cycling' as a display/video keyword, your ads will show on content that matches either.
You’ll also notice contextual targeting simplified into a single page in Google Ads, so you can manage all content targeting types (topics, placements, display/video keywords and exclusions) in a single view. The new page can be found in the 'Content' section under Campaigns 
For video campaigns that drive conversions only: To help you find more conversion opportunities, you’ll no longer be able to add content targeting to new and existing video conversion campaigns in the coming months. From early 2023, all existing content targeting settings will be automatically removed from video campaigns that drive conversions. To manually remove content targeting from existing conversion campaigns, go to your ad group settings. Learn more about optimising your campaign for conversions
The process that matches ads to relevant sites in the Display Network using your keywords or topics, among other factors.
- Here's how it works: Google's system analyses the content of each web page to determine its central theme, which is then matched to your ad using keywords or topic selections you added in the 'Content' section, your language and location targeting, a visitor's recent browsing history and other factors.
- Google Ads uses contextual targeting when an ad group has keywords or topics and its campaign is set to show ads on the Display Network.
