One of the most popular and influential finance and crypto news media outlets, CCN, has recently announced its shutting down. As it said, the reasons include an extreme fall in mobile search traffic, small revenue and Google’s monopoly on media in the world.
The CCN’s traffic has experienced a massive downturn after Google has rolled out June 2019 Core Update. The changes touch the search algorithms which directly influence daily traffic. In figures, the CCN’s web traffic dropped by 53% overnight, while the AMP traffic went down by 71%. CCN tried to resolve the situation by asking for guidance in Google’s Webmasters Forum. However, there were no specific details of the reasons.
CCN is not the only one who suffered from Google’s update. According to the Sistrix.com, Coindesk also showed a big drop in traffic, almost 35%; Cointelegraph has experienced a 21% drop in mobile search traffic.
Another reason why the team of CCN decided to stop its activity is that its daily revenue decreased by 91%. The staff consists of more than 60 people (full-timers and part-timers), except for ads they did not receive any funding from other parties.
The other factor is the monopoly of Google in the media sector. CCN provided information that Google controls 88.47% of the global desktop search market (April 2019). The founder of CCN, Jonas Borchgrevink, personally calls for the world to stop Google from taking over the world of media aka the world of freedom and justice.
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