Google loses major advertisers amid hate speech controversy
Whether you want to admit it or not, the internet runs on advertising. Most of the sites we use that we consider free are actually built on advertising revenue from Facebook all the way down to your local news site. That’s why even an internet mammoth like Google stands up and takes notice when it loses major advertisers. In the wake of YouTube’s recent hate speech controversy where advertisers complained about their ads showing up on or near hate speech videos, both Verizon and AT&T have pulled their advertising dollars away from Google.
While this move will cost Google hundreds of millions of dollars, AT&T and Verizon’s decision to withdraw their advertising dollars may have less to do with hate speech and may have more to do with business. Many tech insiders have speculated that this move may mean that Verizon and AT&T are looking to launch their own YouTube competitors. One could also assume that each company would give traffic priority to their own respective platforms over YouTube.
While there are many video streaming sites and apps out there, none have captured the global imagination more than YouTube. They were the first and have remained the king of the mountain since. However, not every king stays king forever and while YouTube has shown some major flaws in recent days are Verizon and AT&T big enough names to take on YouTube as they’re basically two Davids against YouTube’s Goliath? Probably not, so even with all their flaws expect YouTube to continue to thrive.