One of the most important subjects addressed is when YouTube allows advertising on videos that contain “hateful content.” YouTube will allow ads to run on news videos about topics like homophobia, on “artistic content” like music videos that use “sensitive terminology in a non-hateful way,” and on “comedic content that includes jokes at the expense of marginalized groups in a non-hurtful manner.” What that means, exactly, is less clear.
Source: YouTube tries to become more transparent with in-depth guide to monetization