The scandal started in the United Kingdom, and several local brands, including Marks & Spencer, pulled their ads from YouTube. However, American brands, including Verizon Communications Inc. VZ and Johnson & Johnson JNJ have followed suit.
General Motors Issues A Statement
In a statement to Benzinga, General Motors Company GM confirmed it has suspended ads on YouTube until "Google can adhere to our brand standards."
Who Else Is Pulling Ads?
A Bloomberg report dated March 24 listed American brands who have also decided to pull their ads from YouTube:
- Verizon.
- Johnson & Johnson.
- PepsiCo, Inc. PEP.
- Starbucks Corporation SBUX.
- Wal-Mart Stores Inc WMT.
A Wall Street Journal report further noted the following companies have also pulled their ads on the video streaming platform.
- The Coca-Cola Co KO.
- DISH Network Corp DISH.
- Twenty-First Century Fox Inc FOXA's FX Networks.
- AT&T Inc. T.
Also, Toyota Motor Corp (ADR) TM and Microsoft Corporation MSFT were said to be monitoring the situation closely but have not made a decision to pull ads.
Related Links:
Some Early Fallout As EU Officials Demand Changes To Social Titans' Codes Of Conduct
Advertising Community Says Google's YouTube Ad Scandal 'A Real Issue'
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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