Dive Brief: 

• After Yahoo purchased Tumblr in May, it promised that ads would be established on the platform by 2014 — but marketers are skeptical. 
• Tumblr only has five ad offerings so far, and they are all tied to dashboards — the first screen a user sees when they log in. 
• The main complaint is that the ads offer no targeting capabilities. Most brands are creating content for Tumblr, but don't feel a draw to pay to promote it until the ad offerings improve. 

Dive Insight: 

The fact that brands and marketers are creating content for the platform shows that most see some value there, but as with most other social networks, the content creation comes first until ad value is proven. There's a good chance Tumblr will be able to pull that off, but it just isn't happening as fast as Yahoo initially predicted.