Corrupt, yes, but blackmail isn't quite right. More like private security offering to look the other way if you can pay enough to make it worth their while.
It honestly looks like a mixture of blackmail and Tortious interference.
Blackmail: pay us or we will cut your advertising revenue.
Tortious interference: Your company counts on (double_digit)% ad revenue. We're going to harm you in significant ways... unless you pay.
>Blackmail: pay us or we will cut your advertising revenue.
As others have said, not blackmail, but extortion. Blackmail would be the threat of revealing embarrassing or financially harming information.
>Tortious interference: Your company counts on (double_digit)% ad revenue. We're going to harm you in significant ways... unless you pay.
Another name for that here in the US is racketeering, or running a protection racket. It's the classic "pay us X dollars or we'll destroy your store/break your kneecaps/kill your family" only with a digital/financial threat.
