Hi nashville,

Same thing happened to my AdSense earnings. Throughout 2004 I was earning around $15,000 per month (started to drop around September that year). 2005 dropped to around $6,000 per month. 2006 was $1,000 per month. Same traffic, CTR etc.

However over the same time period my advertising costs went from £0.95 per click to around £4.25 per click for my main business (UK mortgages). Today I can't get my ad to show on Google's 'content network' unless I spend £20 per click for keywords like "secured loans" and £5.00 per click for "mortgages".

So why does it cost cost me about US$39 per click for the keyword "secured loans" on the content network yet I earn US$1 for someone clicking on a similar ad on my secured loans website? That works out to be a pitiful 2.5% revenue share.

My revenues started to drop immediately after Google's IPO. So the answer to our problem probably lies with Google's need to increase profits for the shareholders & the easiest way to do that? Screw the publishers.