Invisible Billions: The True Value of Journalistic Content for Google

Google ranks among the biggest beneficiaries of the digital information age. Billions of people use the platform daily – and a significant portion of their searches lead to journalistic content. While media outlets provide high-quality information, their share of the resulting value remains disproportionately low. Journalism is not just an add-on service – it is a fundamental part of the user experience, shaping brand perception and fostering loyalty.

A new data-driven study by FehrAdvice & Partners AG quantifies this imbalance. Real-world usage scenarios were experimentally simulated across several European countries, with a clear objective: to accurately measure the economic contribution of news content to Google. The findings are clear: without journalistic content, user engagement, trust, and willingness to pay all decline – and Google’s platform loses relevance. Yet across Europe, Google pays only a fraction of what would be considered fair. The core problem? A lack of transparency and a structural power imbalance between platforms and media organizations. What’s needed? Evidence-based data – and collective action.

Google pays – but far below value

By early 2025, Google had signed more than 4,400 licensing agreements with media outlets in 24 EU countries. These deals include programs such as News Showcase and Extended News Previews. Yet despite the volume of agreements, industry sources estimate that only €150 to €200 million flow annually to European media. The contrast with Google’s financial performance is stark: in Q1 2025, Google reported $34.54 billion in profit. The value generated by media content is vastly higher than the actual payments made. Studies suggest a fair revenue share of six to seven percent of relevant Google earnings. The reality falls far short – and smaller or regional media outlets, despite their significance, are often grossly undercompensated.

Experiments reveal true value

FehrAdvice & Partners AG doesn’t rely on speculation – its studies are grounded in robust data. Instead of traditional surveys, experimental designs were used to simulate real user interactions. Test participants engaged with Google search results – some with, some without journalistic content. Researchers measured behavior, dwell time, and willingness to pay. In Switzerland, the value contribution of journalism to Google is estimated at a minimum of CHF 154 million (approx. €163 million) per year. In the UK, the analysis indicated a fair revenue share of around £2.2 billion (approx. €2.7 billion). In Poland, user time dropped by up to 12.5% when news content was removed, and the estimated economic value of journalism for Google was nearly €170 million. A fair media share? Around €80 million. These declines are quantifiable. In addition, qualitative interviews revealed that search engines are rated significantly higher when journalistic content is included – a strong indicator of long-term brand loyalty.

Behind Google’s facade of testing

In late 2024, Google ran its own test: in eight EU countries, news content was removed from search results for about one percent of users. Google’s conclusion? No measurable impact on ad revenue. News, they claimed, is “economically almost worthless.” But this claim contradicts independent research. User surveys show that two-thirds of respondents prefer search results with news. In the UK, users said they would be willing to pay 34% more for Google searches that include journalism. Behavioral economics experiments back this up: the quality of the search experience suffers significantly without professional content. The FehrAdvice studies offer a compelling counter-narrative to Google’s official stance.

Transparency over tactics

A major issue remains: lack of transparency. Contracts between Google and media outlets are confidential; exact value-creation figures are missing. This information imbalance hinders fair negotiations. After all, you can’t demand a fair price if you don’t know your own worth. This is where FehrAdvice & Partners AG’s methodology comes in: by combining real behavioral data, experimental design, and economic modeling, a new level of clarity emerges. These studies do more than present facts – they offer tools for informed media policy. The findings are not just analytical – they’re a strategic lever for negotiations and legislative reform.

Fair compensation through collective strategy
Individual efforts against global platform giants are rarely successful. But with solid data, collective strategies can be developed. Knowing your own contribution strengthens your position – whether negotiating with platforms or advocating to policymakers. The studies from Switzerland, the UK, and Poland make one thing clear: the value of journalism is measurable, and the current level of compensation is insufficient. Now is the time to turn transparency into fair negotiating power – and reshape the digital information economy for the future. Together, media organizations can use hard data to set new standards for more equitable value creation.