google-thumbNot long ago, Google put a ban on payday loan ads that will cost the company millions.  AdGooroo, a paid search research firm, has estimated that Google will be losing $34.5 million in US ad revenue on desktop alone.  Even though most of us would choke at losing such a large of money, this really isn’t very much when you take into consideration that Google took in over $54 billion in total ad revenue in 2015.

AdGooroo observed 4,211 advertisers bidding on a set of 726 payday loan-related keywords in the US on Google desktop search in 2015.  A couple of the top advertisers that are going to be losing out due to the ad ban includes MoneyMutual.com and QuickerCash.com.  These two companies have spent over $2.5 million last year on those keywords.

Google-Gives-Up-34.5-Million-Payday-by-Dropping-Payday-Loan-Ads-AdGooroo

The ban on ads that Google has placed on payday loans that require repayment within 60 days is global.  In the US, any ads that promote high-interest loans with an APR of 36 percent or higher won’t be allowed to run in the US.  The ban will take efffect on July 13, 2016.

 

Source –