YouTube Loses 70 Billion Dollars By Censoring Creator Content!
In an effort to contain (what they call ) misinformation and extremism that have spread across the platforms, YouTube, Instagram, and Facebook, have banned Alex Jones, Infowars, Milo Yiannopoulos, Paul Joseph Watson, Laura Loomer, and Paul Nehlen under their policies against dangerous individuals and organizations. They also banned the Nation of Islam leader Louis Farrakhan, who has repeatedly made anti-Semitic statements.
Infowars is subject to the strictest ban. Facebook and Instagram will remove any content containing Infowars videos, radio segments, or articles (unless the post is explicitly condemning the content), and Facebook will also remove any groups set up to share Infowars content and events promoting any of the banned extremist figures, according to a company spokesperson. (Twitter, YouTube, and Apple have also banned Jones and Infowars.)
YouTube Loses 70 Billion Dollars!
YouTube has had to pay a heavy price for undermining their subscriber base. In the past, YouTube was a place where people could gather and create content that was off the beaten path of the mainstream media. Creators were free to post cat videos, videos of their family and friends, play video games, and freely monologue about various topics. YouTube’s platform was made popular by regular people. Actually, many people would go to YouTube to escape the mainstream narratives. It was an alternative to watching corporately controlled television. However, in recent years, YouTube has been guilty of censorship. This is especially true for the small group of people who were able to use YouTube as a soapbox from which they can stand up against the giant behemoth of corporate media. Since corporate media dominated entire segments of intellectual thought, there was really no place for dissenting views to be heard but on YouTube. However, now, YouTube has joined the ranks of large corporate giants. They now also support and prefer corporately controlled media, to that of their subscriber base. Needless to say, by doing this, YouTube has cut ties with its market base; those people who prefer an alternative to the mainstream. According to Market Insider:
- Alphabet’s stock plunged almost 8% on Tuesday, slashing the market cap of Google’s parent company by about $70 billion to $831 billion.
- Alphabet reported a 17% rise in first-quarter revenue, its slowest sales growth in three years.
- Earnings per share of $11.90 bested consensus forecasts, excluding a €1.5 billion fine ($1.7 billion) by European competition regulators.
- Growth in Google’s advertising sales and paid clicks slowed, and cost-per-click fell 19%.
- George Salmon, an equity analyst at Hargreaves Lansdown, said it’s “a nasty combination of growth in traffic to Google ads slowing and lower revenue per click from those ads that’s upset the market.”
- Watch Alphabet trade live.
Shares in Alphabet plunged about 8% on Tuesday, slashing the market cap of Google’s parent company by around $70 billion to $831 billion, as investors lashed out after a mixed first-quarter earnings report.
Alphabet — which also owns YouTube, Waymo and DeepMind — reported a 17% rise in revenue to $36.34 billion, its slowest sales growth in three years. However, earnings per share climbed to $11.90 versus consensus forecasts of $10.53, excluding a €1.5 billion fine ($1.7 billion) by European competition regulators.
“The market may be punishing Alphabet just a little harshly when you consider the impact of FX headwinds in these numbers,” said Neil Wilson, chief market analyst for Markets.com.
Google’s advertising revenue rose by 15% to $30.72 billion, a sharp slowdown from 24% growth a year ago, according to its earnings report for the first quarter of 2018. Paid clicks rose 39%, a significant decrease from 59% year-on-year growth in the first quarter of 2018. Cost-per-click also fell 19%, after sliding 19% in the same period of 2018.
“Another EU fine won’t have washed well with investors, but in reality it’s not the check on its way to Brussels that’s causing the shares to drop,” said George Salmon, an equity analyst at Hargreaves Lansdown.
“Instead, it’s a nasty combination of growth in traffic to Google ads slowing and lower revenue per click from those ads that’s upset the market.”
Mounting losses at Google’s famous “moonshots” won’t have helped matters. Sales in Alphabet’s “Other Bets” segment rose 13% to $170 million, but the division’s operating loss widened by 52% to $868 million.