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Search traffic fell 36%: what a direct reader is worth now
Search referrals are shrinking as AI answers absorb clicks. Piano's benchmark puts search traffic down 36% while revenue fell 16%: the gap is what direct readers are worth.
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Topic
How global business news desks frame the same story three ways
New York, London, and Tokyo desks answer to different home markets, and the ownership map proves it. What Nikkei's 1.32 billion dollar FT purchase shows about structure, and where the framing argument stops.
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Publishing houses — Editorial, sales, or rights: how publishing careers actually split
Editorial buys and shapes books, sales moves them, rights licenses them again — the career tracks of publishing, compared with the 2025 pay data.
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How to read earnings reports without a finance degree
Revenue by source, operating profit, then guidance: the three-line read. The NYT's second-quarter 2026 numbers, 13.35 million subscribers and $9.94 ARPU, show each line at work.
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Media News Group and the chain newspaper business, explained
How a holding company running dozens of local titles actually works, and what the trade-offs look like from the newsroom side.