Daily Mirror publisher Reach hit by Google traffic slump

Oct 13 (Reuters) - Daily ‌Mirror publisher ​Reach ​said on Tuesday digital revenue remained under pressure in the third quarter, ‌and that it remained cautious about the ⁠segment's full-year outlook as industry-wide disruption weighed on audience ‌traffic from Google.

• News ‌publishers are navigating falling print readership and weaker referral traffic from platforms such as ​Google amid the rise of AI chatbots.

• Google's AI Overviews, which answer queries directly ⁠in search results, have drawn complaints from publishers over falling ​traffic and advertising revenue.

• Reach's revenue fell 14.1% in the quarter, with digital ​revenue down more than 20% .

• ‌Shares of the company fell as much as 4.3% to 44 pence ⁠in early trade, before paring losses and trading largely flat as of 0717 GMT.

• The company ⁠said print advertising was supported by the FIFA World ​Cup, and off-platform revenues benefited from AI licensing agreements.

• It is restructuring its business, including closing print sites, ‌as it looks to reduce costs and offset pressure from declining print ‌sales and weaker digital traffic.

• Reach said ⁠it remains on ‌track to deliver ​full-year results in line with market expectations. ($1 = 0.7561 pounds)

(Reporting by Atharva Singh in ‌Bengaluru)

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