Cryptocurrency news website CCN.com announced that it is ceasing operations after Google’s recent search rankings update caused a deep cut in its mobile traffic.
In a note published on the website, its founder Jonas Borchgrevink said that after Google’s June 2019 Core Update was released on June 3, CCN’s traffic from Google searches dropped more than 71 percent on smart phones overnight, and daily revenue fell by more than 90 percent.
As data from SEO analyzer Sistrix shows, CCN’s visibility on Google dropped from 1.2 to less than 0.6. This change by Google is directly having a significant impact on CCN as a small independent news organization that has never received any outside funding, according to Borchgrevink. “The money we made on advertisements was directly funneled back into growing the team,” he added.
Borchgrevink alleged that the theories provided by Google’s Webmasters Forum for why it has decided to basically “shut down” CCN does not appear to be entirely accurate.
The update apparently affected all the leading blockchain news portals.
CoinDesk has experienced a 22.1 percent drop on mobile phones, while Cointelegraph suffered a 21.1 fall in traffic, according to Sistrix.com data.
Borchgrevink alleged that it is partially a “crypto crackdown” by Google. He also suspects that CCN’s conservative posts led to the reduction in search activity.
Other sites that are not affiliated with cryptocurrencies, including the Daily Mail, were also significantly impacted by Google’s June 2019 Core Update.
Founded in 2013 as CryptoCoinsNews, CCN.com was one of the crypto-related news sites with the highest amount of traffic worldwide. It claims it had more than 3 million page views a month.
Ironically, the news of the shut down coincided with a report that Google made a revenue of $4.7 billion from the news industry in 2018.
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