Publishing Trends 2025: The Risk of Triple Invisibility

At this year's European Advantage Users Group (EAUG) Meeting in Antwerp, Philippe van Mastrigt, our Managing Director, Europe, delivered his seventh annual keynote on publishing trends. This year’s theme: the growing “triple invisibility” threatening publishers worldwide. 

1. Politics and Press: Trump’s election impact  

No “Trump Bump” This Time 

Donald Trump’s return to the White House has disrupted geopolitics—and publishing. Yet unlike 2017, his comeback didn’t produce another “Trump Bump.” News subscriptions remained flat, signaling that the once-explosive digital growth cycle has cooled. 

The Billionaire Owner Illusion 

Optimists once believed billionaire owners would protect journalism. In reality, their business interests often outweigh editorial independence. Jeff Bezos, for example, blocked The Washington Post’s political endorsements amid federal contract concerns—prompting 250,000 subscriber cancellations. Across Europe, similar conflicts of interest are reshaping media control. 

The End of Journalistic Hegemony 

Influencers now rival journalists in reach and impact. Among 18–35-year-olds, social platforms—not news outlets—are the primary source of information. Moderation has loosened on Facebook and X, further eroding journalistic authority. Some outlets, like Le Monde and Axios, are leaning into credibility as a differentiator, while others turn their reporters into brand ambassadors—a risky balance. 

The Impact of Trade War 

Trump’s trade policies reignited tariff wars, raising U.S. paper prices and complicating cross-border eCommerce. Meanwhile, subsidies are drying up in markets from France to Argentina to the U.S., forcing publishers to adapt—or contract. 

2. Economic Strain and Industry Divergence 

Transitioners vs. Decliners 

A widening gap separates innovators from those in decline. 

• Transitioners: The New York Times (11.6M digital subscribers), Financial Times, Le Monde, and El País are thriving on digital growth and AI partnerships. 
• Decliners: Regional titles and legacy outlets face layoffs, mergers, and ownership turmoil. Print continues to shrink, surviving mainly as a premium, niche product. 

Strategies That Work 

At the 2025 INMA Subscription Summit, three winning tactics emerged: 

• Target new audiences: Schibsted’s Aftonbladet is adapting journalism to attract younger, non-urban readers. 
• Flexible paywalls: AI-driven dynamic paywalls are replacing rigid models; some publishers even scale back or remove them. 
• Bundling: Multi-brand and cross-title bundles are expanding reach—like The Wall Street Journal’s four-brand offer or The New York Times partnering with De Standaard and The Economist. 

3. Platforms and Technology in Flux 

AI Disruption 

AI remains both opportunity and threat. Market volatility, exemplified by Deepseek’s disruption, hints at a tech bubble. Meanwhile, Google’s dominance is slipping, Apple lags behind, and Microsoft’s Copilot is carving out space. 

The Copyright Battle 

Legal pressures are mounting: lawsuits over AI training data led to record settlements, including Anthropic’s $1.5B deal with publishers. Yet piracy and AI-driven content scraping are new frontiers in the copyright battle. 

The Risk of Website Invisibility 

Traffic declines—once tied to social media changes—now stem from AI “no-click” searches. ChatGPT and similar tools summarize information without linking to original sources, threatening both ad revenue and discoverability. 

4. The Shift to Video 

Audio podcasts are giving way to video. YouTube now leads, followed by Spotify and Netflix, all merging formats across music, film, and talk content. Publishers are scrambling to keep up: Ouest-France acquired a TV license to build video capacity, while The New York Times replaced its audio app with a video platform. 

Conclusion: The Triple Invisibility Threat 

The publishing industry now faces a threefold challenge: 

1. Invisibility of journalism – overshadowed by influencers. 
2. Invisibility of content – buried beneath AI summaries. 
3. Invisibility of the written word – displaced by video dominance. 

How publishers respond in 2025 will shape the industry’s visibility—and viability—for years to come.

This is just an excerpt of Philippe's analysis. Download the full 2025 report via the form below.