This year all I have noticed is my Adsense CPM decreasing, although my CTR has remained stable.
I thought Google were making more more profits than ever, due to Panda meaning more people have to bid for keywords, and spend more on their campaigns.
What have others experienced in regards to their CPM?
Have they cut Adsense commissions due to the fact they have now knocked out more of their competitors, i.e. affiliates?