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Content network is on by default. There is however, a new feature (within the last year) that allows you to bid differently on it.
Due to how Google's system automatically "optimizes" ad rotations it is possible to be getting traffic then totally have it drop off. Or vice versa, getting no traffic and then have it spike. I have a couple of clients who pay me to manage google traffic it is a total pain in the ass to try to explain this. Makes me look like an ass.
I don't mind the content network traffic but I definately don't pay the same amount for it. I suggest taking your max bid and cutting it in half. This pretty much guarantees you will not get caught paying top dollar for inferior traffic.
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