Jessica Davies reports that new publisher data suggests that some sites are getting 25% less traffic from Google than the previous year.

Writing in Digiday:

Organic search referral traffic from Google is declining broadly, with the majority of DCN member sites — spanning both news and entertainment — experiencing traffic losses from Google search between 1% and 25%. Twelve of the respondent companies were news brands, and seven were non-news.

Jason Kint, CEO of DCN, says that this is a “direct consequence of Google AI Overviews.”

I wrote previously about the changing economics of the web here, here, and here.

And related, Eric Mersch writes in a LinkedIn post that Monday.com’s stock fell 23% because co-CEO Roy Mann said, “We are seeing some softness in the market due to Google algorithm,” during their Q2 earnings call and the analysts just kept hammering him and the CFO about how the algo changes might affect customer acquisition.

Analysts continued to press the issue, which caught company management completely off guard. Matthew Bullock from Bank of America Merrill Lynch asked frankly, “And then help us understand, why call this out now? How did the influence of Google SEO disruption change this quarter versus 1Q, for example?” The CEO could only respond, “So look, I think like we said, we optimize in real-time. We just budget daily,” implying that they were not aware of the problem until they saw Q2 results.

This is the first public sign that the shift from Google to AI-powered searches is having an impact.