In late 2025, publishers worldwide saw a sudden fall in Google Ads earnings. RPM and CPM dropped sharply, creating confusion and concern across the ad industry.
Shift
The biggest driver is a major shift in digital advertising. Privacy rules, tracking limits, and AI-driven bidding changes reshaped how ads are bought and valued.
Privacy
New privacy restrictions limited advertisers’ ability to track users. This reduced targeted ad value, pushing CPMs down across multiple regions.
Cookies
Google’s ongoing phase-out of third-party cookies made targeting harder. With less user data, advertisers bid more cautiously, lowering revenue.
GPC
Global Privacy Control signals expanded globally in 2025. More users decline tracking automatically, leading to weaker personalization and lower ad bids.
Holiday
The usual holiday ad boom slowed down. Brands delayed budgets, experimented with new targeting models, and shifted spending to alternative platforms.
AI Bids
AI-based smart bidding adjusted aggressively to market uncertainty. This led to inconsistent or lower bids for many publisher categories.
Impact
Small publishers were hit hardest. Limited diversification and reliance on programmatic ads made the revenue drop feel even more severe.
Fixes
Improving traffic quality, diversifying networks, boosting engagement, and using direct deals helped many publishers cushion the decline.
Takeaway
The 2025 revenue drop marks a long-term shift, not a glitch. Stay informed, optimize content, and diversify earnings to stay resilient.