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U.S. pharma giant Johnson & Johnson and JPMorgan Chase Co. are the latest U.S. firms to withdraw all of their digital advertising materials on Google Inc.'s YouTube over worries that the ads are placed on channels that have offensive content.
Google has been under fire after a report revealed that ads are appearing with YouTube videos promoting homophobia or racial/religious discriminatory messages. The company promised it will overhaul the system and said that it has began a thorough review of its policies.
J&J said that the move was motivated by the desire to make sure that its product advertising did not accompany videos or channels on YouTube that highlight “offensive content”. Meanwhile, America's biggest bank by asset which spends $3 billion on marketing each year said pulled out all of its ads from the platform, according to a spokesperson.
On Wednesday, Verizon also announced that they would halt digital ad spending on Google's video platform. J&J and JPMorgan joins a roster of renowned British companies that are boycotting YouTube.
Shares of the Google fell 1.2 percent or $10.15 per share, trading at $839.65 on NYSE.
