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In Episode 1 of Conversations with Cornelia, Alessandra Di Lorenzo explains how AI search and zero-click discovery are collapsing referral traffic—and what publishers and brands can do next. We cover publisher monetisation, “boutique” ad models, higher-quality programmatic, and why brand + direct traffic matter again. AI search & zero-click: why clicks are disappearing Publisher revenue pressure and the vicious cycle Boutique monetisation: fewer placements, better performance Commerce media lessons from Lastminute.com (intent, click-in vs click-out, cannibalisation) Marketing + monetisation at P&L level [00:00] Introduction and Guest Welcome: The host introduces Alessandra Di Lorenzo and sets the stage for the discussion on the current state of digital publishing. [02:15] The Evolution of the Open Web: Alessandra discusses how the landscape of the internet has shifted over the years and the challenges currently facing publishers. [05:30] Defining the "Zero-Click" Problem: An explanation of zero-click searches—where users get their answers directly on the search results page—and why this is a major concern for content creators. [09:45] AI's Role in Search and Monetization: How generative AI is changing search behavior and the potential threat it poses to traditional advertising-based revenue models. [14:20] The Importance of First-Party Data: Alessandra emphasizes why publishers need to focus on building direct relationships with their audiences and leveraging their own data. [18:50] Proposed Fixes and Future Strategies: Discussion on potential solutions, including new monetization models and the role of transparency in the ecosystem. [23:10] Closing Thoughts and Key Takeaways: Final insights on how the industry can adapt to stay sustainable in an AI-driven world