One SEO professional was concerned about how their site was hit after the summer Page Experience update.
They are working to convert their site to AMP along with using webP for images.
Their main question is: “Will converting JPEGs to webP affect existing image rankings?
John explained that yes, it’s possible that these changes could impact rankings. He’s observed people using the same image extensions, and just making them webP files.
If this works, this would save you some trouble because you just swap out the content but keep the same URLs. And all of this will continue working.
The other issue John mentioned is that if you change the URLs of all the images, or the URLs of the landing pages that are storing these images, it would take longer for image search to pick that up.
The other thing to keep in mind is that not all sites get a large quantity of traffic from image search.
Theoretically, this could look like something that could improve things if you make these changes. However, from a practical perspective, you may only get 5% of your traffic from image search.
This would cause these technical changes to slip to a much lower priority.
The SEO professional explained that they do get substantially more traffic from image search.
This happens at approximately the 6:45 mark in the video.