The value of Thommy's side is shown here.
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"free" brings simply more people - and they do not come with the Intension to buy anything. this is why professional marketers are in charge at this point.
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So great professional marketers only make 1-30,000 to 1-50,000 viewers buy something and he thinks it proves him right.
That only applied to TV in the pre streaming days. Even today you can't give away free what you're advertising. Cars aren't free to advertise cars, beer isn't free to advertise beer, little samples are but all you can consume isn't.
Maybe when mainstream starts advertising on porn sites the revenue will by high enough to pay to create content, run the company and pay any price for BW. I'm not so sure because the ratios on convincing someone who is jerking off to buy a car, beer, etc are pretty low if you've only got him for 30 minutes with his dick in his hand. No matter how good the professional marketers are.
Magazines didn't put adverts in the middle of the porn sets for the same reason. A man with a dick in his hand isn't the reading ads.