
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.

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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