Pivotal researcher Brian Wieser downgraded Google batch on Monday after an advertiser protest in the UK, which followed reports that ads from major brands were appearing next to militant videos on YouTube.
Wieser downgraded Google’s batch from “buy” to a “hold” after many of the UK’s biggest brands boycotted Google’s promotion network over code reserve fears.
“Alphabet’s Google is confronting a critical issue in the UK with code reserve issues, which has global repercussions,” Wieser wrote in the researcher note on Monday.
“Although spending by advertisers who have announced their goal to postpone spending on YouTube and other Google properties is comparatively tiny so far, we consider that recognition of the occurrence will marginally diminish global expansion this year vs. before expectations, heading us to revoke the cost aim on Alphabet slightly, to $950 vs. $970 previously.”
Google’s European boss Matt Brittin pronounced on Monday that the issue of ads appearing next to hatred debate on Google-owned sites influenced “a handful of impressions and pennies not pounds of spend.”
Here’s the list of brands that have pulled their ads from Google:
- Havas UK clients – the BBC, O2, Domino’s, the Royal Mail and others
- The Guardian
- The UK government
- McDonald’s UK
Get the latest Google batch price here.