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I look at it like the comparison between risky stocks and safe ones. If you want a nice, steady revenue PPS is more predictable - with steady traffic you have a good idea what you're going to pull in each month. With rev share it's more of a gamble - if you do only rev share you may see really good months and really bad ones.
A good mix is probably best as others have pointed out. A solid base of PPS with some recur/rev shares can give a nice, unexpected bonus some months.
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