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No. Keeping out LGBT related keywords was shown to increase their performance.

Yeah but is it the algorithm suppressing such content, or is that outside of a vocal minority, similar tags reduce interest in the content, on average?

So a thing that you should know about YouTube is that if a video is demonetized, it loses ranking in search engines. Since videos seem to be automatically demonetized if they have LGBT related tags, it is much more likely that the lose in ranking is due to the demonetization that is due to the LGBT content.

It might be the case that advertisers aren’t interested in such content at all. I think similar things happened with PewDiePie a lot before he started censoring himself.

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