June 11, 2019, | AtoZ Markets - As media reports, a Norway-based crypto news platform CCN shuts down after experiencing a 71% fall in mobile traffic due to a recent update to Google’s search rankings. How drastic could be Google 2019 core update impact on crypto websites?
CCN shuts down: Google gets a monopoly in the news?
CCN news portal was founded in the summer of 2013 in Norway by entrepreneur Jonas Borchgrevink as “CryptoCoinsNews.com”. By the end of 2018, the crypto news platform became a part of the Norwegian media company “Hawkfish AS”. However, as the CCN reports, most of their employees and contractors are based in the United States, Europe, and Asia.
On June 10th, the company’s CEO Jonas Borchgrevink published an official letter addressed to the media community.
In his message, Borchgrevink revealed the data from the SEO analyzer Systrix, by saying, that their news portal’s visibility “dropped from 1.2. to less than 0.6”.
The CEO emphasized, after its core update Google stopped showing CCN articles in its search results. Due to this, as the company’s official stated, the news portal lost 90% of their revenue due to lost traffic.
Jonas Borchgrevink concluded his letter by saying that after CCN shuts down, the entire team will be moved to another news platform with an address HVY.com.
Google 2019 core update impact on crypto websites
Notable, that CCN is not the only news platform, affected by the recent update to Google’s search rankings. The CCN representatives report that popular blockchain news portal CoinDesk has experienced 34.6% drop, and Cointelegraph has reached a 21.1% drop on mobile.
Another crypto news publication U.today stated, that their AMP (Accelerated Mobile Pages) is on “zero-level” and “search queries are filled with outdated top stories from Bloomberg, CoinDesk and FXstreet.”
In his letter, Jonas Borchgrevink cited Barry Schwarts from Search Engine Land, who stated, that certain UK news platforms, including Mirror, the SUN, and Metro, gained Google Search Engine traffic.
CEO of CCN, Jonas Borchgrevink, expressed his concerns that Google might be playing the monopoly game by controlling the search engine industry. According to Borchgrevink Google is against journalism ethics and free speech.
CCN shuts down, Stankevicius MGM expresses interest in acquiring it
It is worth to mention, that after CCN announced they were shutting down, different media outlet started spreading a rumor that a PR company, Stankevicius MGM, was interested in acquiring CCN. According to the company’s description, Stankevicius MGM is a global advertising, marketing, and public relations firm that provides advertising and marketing services to corporations, financial companies, startups, and individuals.
Founded in 2014 in Finland, the firm also has offices in Dubai, United Arab Emirates Hong Kong, and Minsk. According to the local media, in 2018, Stankevicius MGM acquired the crypto news portal moneyincrypto.com.
Although the acquisition was not that successful in terms of visitors’ number, past action shows that Stankevicius MGM is interested in the crypto media news business. However, will Stankevicius MGM really sign a partnership with CCN? Only time will tell.
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