AI search hits UK/US publishers: less inventory, higher eCPMs
A report based on Ozone's analysis of roughly 20 billion premium ad impressions finds that AI-powered search and zero-click answers are reducing referral traffic and programmatic ad supply on the Open Web. Ad requests in Q2 2026 fell year-over-year by about 32–37% in the US and 39–41% in the UK. Publishers are also deliberately filtering low-value bid requests, further shrinking available inventory. Despite lower volumes, average eCPMs rose (approximately 30% in the UK in June and ~7% in the US), partially offsetting revenue declines; overall programmatic spend in the examined publisher group fell ~31% in H1 2026. The shift is prompting publishers and buyers to prioritize inventory quality, first-party data, contextual signals, and attention metrics.
- •Ozone analyzed roughly 20 billion ad impressions from premium publishers in the US and UK.
- •Ad requests in Q2 2026 fell year-over-year by ~32–37% in the US and ~39–41% in the UK.
- •Average eCPMs in June rose about 30% in the UK and about 7% in the US compared with the prior year.
