Google hardly seems bothered by the YouTube advertiser boycott
Thomson Reuters
While the Alphabet-owned company once again declined to break out YouTube's revenue during its earnings call on Monday, executives spoke in effusive terms regarding the web video juggernaut.
Google CEO Sundar Pichai called YouTube one of the company's "most promising bets" and added later that he sees "a lot more growth ahead" for the platform.
That's despite the fact that in late March, 250 advertisers said they pulled their ads from YouTube after several major marketers saw their ads end up next to extremist or hate videos on the Google-owned site. Last month, the Wall Street Journal reported that while some big brands has returned to advertising on YouTube, many had not.
The analysts on the conference call never even asked about the brand safety issues or the boycott.
Since the bulk of this ad boycott was likely to be felt during second quarter, the company's confidence regarding YouTube on Monday's call was revealing. It may speak to the limited impact that a few major marketers can have on a global site that caters to thousands of advertisers.
In May, YouTube hosted its annual brandcast event in New York, during which it looked to assuage advertisers concerns in part by rolling out several more 'brand-safe' original series. Pichai said advertiser reaction to these shows was "extremely positive." He also said that hundreds of brands are buying ads through Google Preferred, the company's ads sales offering designed to help marketers purchase ads on only the top YouTube channels.
Overall, Google topped investor expectations on Monday but its stock slipped about 3% in after hours trading.
Get the latest Google stock price here.
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- BenQ Zowie EC2-CW review – Premium wireless mouse for gamers
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings
- FPIs make remarkable comeback, infuse ₹2 lakh cr in FY24
- PM Modi and Bill Gates discuss AI, climate change, millets and more
- Consuming excessive salt and inadequate potassium, protein is making North Indians prone to life-threatening diseases: Study