Casey Newton, a journalism industry expert and writer for Platformer, discusses how Google's changes to search may fix it for many but also harm journalism. The conversation delves into the impact of Google on the media apocalypse, zero-click searches, and Google's influence on digital advertising revenue.
Google introduced AI-generated summaries in search results, potentially impacting traditional publishers' traffic and revenue.
Publishers face the prospect of losing 20-40% of their traffic, leading to further consolidation and closures in the journalism industry.
Concerns arise about the future of journalism as Google's search functionality shifts, prompting publishers to diversify and adapt.
Deep dives
Google's Evolution in Search Results
Google introduced AI-generated summaries into search results, offering quick answers to queries like product recommendations or news summaries, potentially impacting traditional publishers' traffic and revenue. This feature aims to keep users within Google's ecosystem by providing extensive information directly on the search results page.
Challenges for Publishers
As Google's new search feature gains prominence, publishers face the prospect of losing 20-40% of their traffic, severely impacting their revenue streams. This trend could lead to further consolidation and closures in the journalism industry, echoing recent closures of prominent media outlets like Buzzfeed News and Vice.
Implications and Solutions for Publishers
The shift in Google's search functionality raises concerns about the future of journalism and online publishing. Publishers must adapt by diversifying revenue streams, focusing on high-quality, unique content, and exploring alternative platforms to mitigate the potential impact of reduced traffic from Google's AI-generated summaries.
The Rise of Rocket Money and SpotPet Insurance
Rocket Money, with over 5 million users, has helped its members save up to $740 annually by canceling unused subscriptions, totaling $500 million in savings. Additionally, SpotPet Insurance offers virtual assistance for pet owners, providing up to 90% cashback on vet bills. They also offer a 24/7 vet telehealth hotline and preventative care benefits to ensure comprehensive pet care.
Challenges of AI Bots and the Concept of the Fediverse
The podcast delves into the legalities and ethical concerns surrounding AI bots using published content to generate summaries. It explores the ongoing lawsuit between the New York Times and Open AI regarding this issue. Furthermore, it introduces the concept of the Fediverse as a decentralized platform intended to combat issues of monopolization in search engines and AI-driven content creation, aiming to create a more personalized and diverse online experience for users.
Last week, Google announced a fundamental change to how the site will work, which will likely have dire effects for the news industry. When you use Google now, the site will often offer AI-generated summaries to you, instead of favoring human-written articles. We talk to Platformer’s Casey Newton about why this is happening, why publishers are nervous, and about a secret new internet you may not have heard of, a paradise to which we may all yet escape.