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Monetize for live feed.

I have a HLS feed that I would like to monetize.  I would like to sell my own ads but have them play at regular intervals in the live feed.   I need to set up to monetize but I need to know if this is possible with the live feed.  If it is does it play the ads after the number of seconds stated in the code from when the person joined the stream?  Could use some help. 
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