Media Briefing: A solid Q4 gives publishers breathing room as they build revenue beyond search

"After a long stretch of belt-tightening, Q4, 2025 gave publishers something they haven't had in a while: a win. Digital advertising revenue was up for many, buoyed by a more stable economy and advertisers feeling more confident to spend again after months of hesitation. The late-year momentum is carrying over into early-year forecasts, fueling cautious optimism about what 2026 could bring."

"But the rebound comes with some notable caveats. Traffic erosion, a volatile open-web programmatic advertising market, and AI-driven shifts in content discovery mean growth now has to be earned differently. The challenge for publishers is no longer proving reach. As AI reshapes discovery and dollars get harder to win, the pitch to advertisers is shifting from scale to relevance, with a need to show advertisers what makes their content discoverable and worth buying against - and from programmatic dependence to diversified, defensible businesses."

"In its earnings call yesterday, People Inc. focused on the growth in revenue not tied directly to web sessions, which are search-reliant. Non-session-based revenue grew 37 percent in Q4 year over year, accounting for 38 percent of total digital revenue. The publisher attributed that growth to its events business, creator and social revenue models, and its partnership with Apple News, along with AI licensing deals (which it has with OpenAI, Microsoft and Meta)."

Q4 2025 delivered a notable revenue uptick for publishers as digital advertising improved amid a more stable economy and renewed advertiser confidence. Momentum from the late year is reflected in cautiously optimistic early-2026 forecasts. Structural headwinds remain: traffic erosion, a volatile open-web programmatic market, and AI-driven shifts in content discovery require publishers to earn growth through relevance rather than sheer scale. Publishers must demonstrate discoverability and diversify away from programmatic dependence toward defensible business lines. People Inc. reported 37% year-over-year growth in non-session revenue, driven by events, creator and social models, an Apple News partnership, and AI licensing deals.

Read at Digiday