diff --git a/ccflow/models/publisher.py b/ccflow/models/publisher.py
index 37a5fc7e..4d20d72f 100644
--- a/ccflow/models/publisher.py
+++ b/ccflow/models/publisher.py
@@ -53,8 +53,12 @@ def __call__(self, context: ContextType) -> ResultType:
         else:
             pub_data = data
         publisher.data = pub_data
-        out = publisher()
         if self.return_data:
+            out = publisher()
             return data
-        else:
-            return self.result_type(value=out)
+        # Release the driver-side references before invoking the publisher so the
+        # publisher can own the sole reference to the frame and free it during the
+        # terminal write, keeping peak memory close to the size of a single frame.
+        del data, pub_data
+        out = publisher()
+        return self.result_type(value=out)
diff --git a/ccflow/tests/models/test_publisher.py b/ccflow/tests/models/test_publisher.py
index 303c8514..418318fd 100644
--- a/ccflow/tests/models/test_publisher.py
+++ b/ccflow/tests/models/test_publisher.py
@@ -1,6 +1,11 @@
+import gc
+import weakref
+from typing import Any
 from unittest.mock import patch
 
-from ccflow import CallableModel, DictResult, Flow, GenericResult, NullContext
+from typing_extensions import override
+
+from ccflow import BasePublisher, CallableModel, DictResult, Flow, GenericResult, NullContext
 from ccflow.models import PublisherModel
 from ccflow.publishers import PrintPublisher
 
@@ -11,6 +16,37 @@ def __call__(self, context: NullContext) -> DictResult[str, str]:
         return DictResult[str, str](value={"message": "Hello, World!"})
 
 
+class Frame:
+    """A weak-referenceable stand-in for a large frame."""
+
+
+_OBSERVATIONS: list = []
+
+
+class FrameModel(CallableModel):
+    @Flow.call
+    def __call__(self, context: NullContext) -> GenericResult:
+        return GenericResult(value=Frame())
+
+
+class OwnershipCheckPublisher(BasePublisher):
+    """Publisher that records whether it holds the sole reference to the frame.
+
+    It drops its own reference to the frame and forces a collection; if the driver
+    has released its references, the frame is collected and the weak reference dies.
+    The observation is appended to the module-level ``_OBSERVATIONS`` list, which
+    survives the ``model_copy`` that ``PublisherModel`` performs on the publisher.
+    """
+
+    @override
+    def __call__(self) -> Any:
+        ref = weakref.ref(self.data)
+        self.data = None
+        gc.collect()
+        _OBSERVATIONS.append(ref() is not None)
+        return "published"
+
+
 class TestPublisherModel:
     def test_run(self):
         with patch("ccflow.publishers.print.print") as mock_print:
@@ -21,3 +57,21 @@ def test_run(self):
             assert res.value.value == {"message": "Hello, World!"}
             assert mock_print.call_count == 1
             assert mock_print.call_args[0][0].value == {"message": "Hello, World!"}
+
+    def test_release_references_when_not_returning_data(self):
+        _OBSERVATIONS.clear()
+        model = PublisherModel(model=FrameModel(), publisher=OwnershipCheckPublisher(), field="value", return_data=False)
+        res = model(None)
+        assert isinstance(res, GenericResult)
+        assert res.value == "published"
+        # The driver dropped its references, so the publisher owned the sole reference.
+        assert _OBSERVATIONS == [False]
+
+    def test_retains_references_when_returning_data(self):
+        _OBSERVATIONS.clear()
+        model = PublisherModel(model=FrameModel(), publisher=OwnershipCheckPublisher(), field="value", return_data=True)
+        res = model(None)
+        assert isinstance(res, GenericResult)
+        assert isinstance(res.value, Frame)
+        # The driver must keep the frame alive to return it, so it is not collected.
+        assert _OBSERVATIONS == [True]