alt Hacker NewsI joined AdSense in 2003. At peak it was generating US$15k a month.
Nowadays it will be a miracle if it passes of US$800 a month.
I think the shift to a more localised audience (NZ), diversion of ad spend to large social networks are responsible. Our traffic is similar in volume but nowhere near as "valuable" apparently.
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I have a similar story -- we peaked at around $20k USD per month for quite a while. However, when ad-rates started declining, we changed our business model, and are now earning much more without any ads at all. I have to say, I'm glad to be rid of Google Ads, as they're full of many, many scammy advertisers.
For many people with decent traffic I believe it makes sense to sell their own local ads instead of depending on a network like Adsense.
All ad networks are cancer, in my humble opinion. Adblocking is a security requirement, so I have no compassion for anybody who bases their economic success on any ad network.