Affiliate revenue plays an essential role in many publishers’ monetization strategies as they seek to diversify beyond traditional subscription and advertising models. But this dynamic income stream now faces serious disruption from emerging search technologies – most notably, AI Overviews and the looming reality of Google Zero.

The threat is very real, with a recent article in The Press Gazette suggesting that AI overviews are cutting up to 40% of affiliate revenue.

In this blog post, we’ll break down what affiliate revenue is, how publishers generate it through content, reviews, and partnerships – and how they can maximize its potential in an era of declining search traffic.

What is Affiliate Revenue – and How Do Publishers Create It?

Affiliate revenue is a performance-based income stream where publishers earn commissions by promoting products or services and driving sales or leads through tracked links. It’s a flexible and scalable model that allows publishers to monetize their content without relying solely on subscriptions or traditional advertising.

Here’s how publishers typically leverage affiliate revenue:

• Embedding Links in Existing Content: Publishers often revisit high-traffic articles, blogs, or guides and insert affiliate links to relevant products or services. This allows them to capitalize on existing SEO value and audience interest.
• Product Reviews and Recommendations: Many publishers create dedicated content – such as reviews, comparisons, or “best of” lists – that naturally lend themselves to affiliate partnerships. These articles are designed to inform readers while subtly encouraging purchases.
• Brand Partnerships and Sponsored Content: Publishers may collaborate directly with brands to feature affiliate links in sponsored articles, newsletters, or social media posts. These partnerships often include exclusive offers or promotions that enhance conversion rates.
• Email Marketing, Newsletters, and Direct Marketing: Affiliate links can be integrated into email campaigns, web push and app notifications, and first part promotions, offering curated product recommendations or seasonal deals to engaged subscribers.

When done well, affiliate marketing not only drives revenue, it also enhances the user experience by offering relevant, trusted product recommendations. But its success hinges on credibility, contextual relevance, and adaptability in a rapidly changing digital landscape. That last factor is becoming increasingly critical, as AI-driven search features like Google’s AI Overviews begin to divert traffic away from publisher sites, threatening the visibility and viability of affiliate content.

The Changing Face of Search

Search engines like Google have long aimed to deliver the most relevant content to users with minimal friction – typically via a click to a well-ranked webpage. But as Google transitions from a traditional “search engine” to an “answer engine,” that crucial click is increasingly being bypassed.

AI Overviews now surface direct answers at the top of search results, often summarizing content without driving traffic to the original source. While this may improve user convenience, it raises serious questions about sustainability. Google still relies on publishers to produce high-quality content, yet offers diminishing returns in terms of visibility and traffic. The imbalance between content creation and reward is growing – and publishers are feeling the strain.

There’s no simple fix to this problem. While some publishers are exploring legal avenues to rebalance the relationship with search platforms, those efforts are slow-moving and don’t address the immediate issue of declining revenue. And let’s be honest – once the genie is out of the bottle, it’s unlikely to go back in. The landscape has changed – we need to adapt.

That’s why the most pragmatic approach is to take stock of your current search traffic, identify what’s still working, and optimize accordingly.

Search Traffic Is Shrinking – But Your Content Has Never Been More Valuable 

Search traffic may be on the decline, but that doesn’t mean the value of each visitor is falling with it. In fact, Liz Wynn, Chief Supporter Revenue Officer at The Guardian, recently noted that the publication often sees strong revenue performance on low-traffic days. This insight reinforces a critical point: the value of each visitor has never been higher. 

With that in mind, now is the time for publishers to focus on optimizing the traffic that still reaches their sites. That means:

• Improving conversion paths: Make sure affiliate links are prominent, relevant, and supported by strong calls to action.
• Enhancing content relevance: Update existing articles to reflect current trends, pricing, and product availability.
• Capturing first-party data: Use pop-ups, embedded forms, and gated content to convert casual visitors into loyal subscribers.
• Leveraging direct channels: Drive repeat engagement through newsletters and other automated campaigns that feature affiliate offers tailored to user interests. 

Why Direct Channels Are More Important Than Ever 

That last bullet point about leveraging your direct marketing channels cannot be understated. Direct channels are becoming a lifeline for media brands looking to protect and grow their revenue. This means that email, SMS, and other owned channels aren’t just support tools anymore, they are strategic assets. 

Here’s why: 

• Audience Ownership: With direct channels like email, publishers aren’t at the mercy of algorithm changes. They own the relationship and control the message.
• Higher Engagement & Conversions: Subscribers are more engaged and more likely to act – especially when content and offers are personalized and timely.
• Content Amplification: Newsletters and direct messages breathe new life into affiliate content, seasonal guides, and exclusive deals – extending their reach and impact.
• Smarter Segmentation: Modern marketing platforms like Upland Adestra enable precise targeting based on behavior, preferences, and purchase history – boosting relevance and results.
• Platform Resilience: As AI Overviews and zero-click search reshape the digital landscape, direct channels remain stable, reliable, and immune to third-party disruption. 

In short: publishers who invest in their direct channels will be the ones who thrive in the post-Google Zero era. 

Has Your Affiliate Revenue Taken a Hit? 

Has your affiliate revenue taken a hit due to declining traffic? It’s time to take back control. 

Discover how owned channels like email, SMS and web push notifications, can help you reconnect with your audience by delivering timely, relevant, and engaging content – directly to the people who actively seek out and trust your brand.  

Speak with one of our direct marketing experts and book your personalized demo today. 

Get the latest insights right in your inbox

Sign-up for our monthly newsletter for the latest email marketing news and best practices. No spam, just actionable insights.