How's Facebook and Google's advertising business now?
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▪ The coronavirus caused chaos in the economic market, and Google and Facebook's advertising businesses faced a rare setback. Google has pulled out a number of entertainment and travel ads, Facebook's advertising prices hit record lows, and revenues of both companies fell for the first time.
The outlook for Google and Facebook in digital advertising looks bleak, but other companies in the industry are worse off. For example, When Yelp chose to lay off workers and take time off to cut spending, Pinterest withdrew its full-year revenue growth forecast of more than 30 percent. And Google and Facebook are less affected as advertising platforms because of their large number of users and the highest number of visits.
Advertisers are wary of advertising the new crown virus. Google has launched a "sensitive incident" policy to restrict ads related to the coronavirus, and Facebook has banned predatory advertising of protective materials, but the move is likely to discourage volunteer groups from donating materials.
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