Yes, page load time will affect ranking. Here are some of few tip to resolve this:
* I put together a lot of interactive media on specific landing pages
* Time-on-Page from organic visitors went from 50 seconds to average of 34 minutes
* Bounce Rate decreased by 20%
* Page Load time increased from 1 second to 6 seconds and at peak times to 8 seconds (on 56KB test)
* In the meantime the page was re-indexed and re-cached.
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