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How bad will things get for PAY sites? Very very bad!
Recessions come and go, the mentality of "if it's on the Net it's free" will stay. It will become the "culture" of the new Net users.
Cams and dating should be OK once the economy bounces back. If you start building new sites build them around cams and dating sponsors and use less pay site sponsors (of course some very tight niches will continue to do well) - just my 2c.
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