YouTube’s parent company Google is set to lose $750m as a result of multinational companies suspending there advertising contracts with google owned video platform.
More than 250 companies, Including PepsiCo and HSBC are pulling their ads from the video Platform as a result of not wanting their ads and products linked to hate speech and other controversial content.
According to Nomura Instinet Analysts YouTube would cause Google to take a hit of 7.5% to the revenue, which were valued at $10.2 billion for 2017.
Five of the top 20 Advertisers on Google who have suspended all advertising on the video-platform have said that YouTube is capable of introducing measures that will redress brand safety concerns but this would not prevent the company being hit financially.
Google has apologised and promised changes with the way all its ads are managed by updating ad policies, and taking a tougher stance on extremism.
This controversy first arose in Britain, where number of brands and the UK government withdrew their advertising with Google owned Video platform, after a Times Investigation showed ads were appearing on offensive content and on Terrorist videos which should have not been on the video platform. If you’re still confused as to why all this is happening, yes its because of the controversial terrorist videos and has nothing to do with Peppa Pig.