#publisher-revenue

#publisher-revenue

"The great patron of the internet for the last 27 years was Google. The great villain of the internet today is also Google," Prince said. He claimed that in the past, for every two pages that Google crawled to inform its search engine, it would, on average, send one visitor to those sites-traffic that publishers can monetise with advertising.

The new change, which Cloudflare calls its Content Signals Policy, happened after publishers and other companies that depend on web traffic have cried foul over Google's AI Overviews and similar AI answer engines, saying they are sharply cutting those companies' path to revenue because they don't send traffic back to the source of the information. There have been lawsuits, efforts to kick-start new marketplaces to ensure compensation, and more-

Affiliate programs are often sold as "partnerships," but for most publishers, they function more like a long-shot gamble. You generate traffic, clicks, and conversions, and then wait to see if the brand's tracking system recognizes your contribution. Spoiler alert: it often doesn't. Ad blockers, private browsing, cookie restrictions, and platform bias all eat away at affiliate tracking. Even when a publisher does everything right - driving legitimate traffic to a partner brand - many clicks go unrecorded or uncredited.

For the better part of two decades, the digital marketing ecosystem has operated on a simple, unspoken contract: content creators make the web interesting, and search engines send them traffic. In exchange, publishers run ads, brands get reach, and users are rewarded with access to "free" content. This intricate dance, orchestrated by Google and Meta's algorithms and monetised through clicks and impressions, has defined countless marketing playbooks. But the mood music is changing faster than ever.

Media companies have filed so many lawsuits against AI companies over the past two years that the act has become routine. When I report on these in The Media Copilot newsletter, they're often digest items, adding to the pile of publishers who want fair compensation for the content AI labs have ingested to create large language models (LLMs). There are so many that elaborate infographics are required to keep track of them all.

Advertising tech publishers are striving to maximise their revenue, as the economic climate continues on a precarious trajectory. A large portion of advertisers are tightening their belts, seeking to activate campaigns with reduced budgets, and as a result, directing less spend to publishers. Smaller advertisers particularly are likely to feel the financial pressure, as they attempt to make budgets go as far as possible.

I don't think we've necessarily seen a material change in the cadence of budget flow ... There's definitely shifts and changes - tariffs impact auto, tariffs impact everything. So as macro changes happen, that definitely has an impact on individual marketing plans. But I don't think it's materially - year-over-year - vastly different from where it was before.

Answer engines like ChatGPT, Gemini, and Perplexity are replacing traditional search traffic with direct answers, depriving publishers of the revenue they would generate from attracting those visitors to their websites. The shift mirrors the decoupling that occurred with Google News two decades ago, when aggregators began to sever the direct publisher-reader relationship, reshaping the economics of digital media, according to Felix Danczak, head of AI and growth at the venture capital firm Pembroke VCT.