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Certainly this is true narrowly, at the margin: the economics of online publishing involve fixed costs and variable revenues, with the result that all things being equal, any given site will make more money as it gets more pageviews. But all things are not equal. And if you start looking up the spectrum from smaller sites to larger, more established organizations, instead of simply looking at what happens to any given site over a relatively short time frame, you find a very different pattern.
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