The group behind LadBible and Betches has warned over profits for the second time in less than two months as it becomes the latest publisher to suffer slumping search traffic amid the shift towards artificial intelligence (AI).
LBG Media saw shares plunge by more than 40% at one stage in Tuesday morning trading, before settling around 22% lower after it revealed so-called indirect revenues – from its own websites and social media revenue-sharing agreements – slumped 41% in the six months to March 31.
