Google Hints Crypto Bear Market is Negatively Affecting Ad Revenue
Source: AdobeStock / wolterke Google saw advertiser pullback in financial services, including the cryptocurrency subcategory, according to the latest earnings call from Google’s parent company, Alphabet . Alphabet’s revenue from Google advertising dropped in the third quarter of this year, said Philipp Schindler, SVP and CBO at Google. Schindler stated that, “In the third quarter, we did see a pullback in spend by some advertisers in certain areas in Search ads. For example, in Financial Services, we saw a pullback in the insurance, loan, mortgage and crypto subcategories .” He added that the company is “operating in an uncertain environment.” Later in the call, Schindler said that there was also a pullback in spending by some advertisers on YouTube and Network – which increased in the third quarter. Notably, in July this year, Google updated its financial products and services policy, which included requirements for c...