Of course. With Youtube ad, you can select your target audience by gender, age, interests and location. You can reach your ideal customers. In fact, you only pay when people watch your ad so will not waste money in advertising to those who are not interested in your business.
Advertizing on Youtube is purely depends on your niche. If you are promoting a Film, or short film, youtube will be the best option. For online clothing niche, facebook ads can perfom better. Also if you are promoting web-site development services google adwords can outperform youtube.