Catena Media scraps 2024 earnings forecast amid Google search changes ...Middle East

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Catena Media scraps 2024 earnings forecast amid Google search changes
Catena Media has lowered its financial estimates for the current quarter and scrapped its 2024 forecast in the wake of Google’s organic search policy overhaul. In a trading update, Catena said Google’s amendments, introduced in May, will reduce the effectiveness of some strategic media partnerships. The changes, the struggling affiliate marketing group said, will adversely affect the rankings of sports betting and casino content published by many major news media websites. Catena said the Google update will reduce revenues and direct costs arising from some of the group’s media partnerships. In more positive news, there has been an offsetting effect in the form of higher traffic and organi

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