I see it two ways...
First off, you have to remember that we had a really good run in the 2000's. Yeah, the late 1990's were incredible as well. And a lot of the sales that happened from 2000 to 2007 came from 15 year old boys who were surfing our tgps a few years earlier. Then when they came of age and had credit cards they were ready to buy memberships. They had spent a few years wondering what was really inside those members areas.
I made millions of dollars selling memberships through my tgps and I can tell you 100% that those surfers started as teen boys and grew up with me online.
So on one hand, this would kill the affiliate model the rest of the way. Oh, it would still be on life support to some extent through non-nude blogging and galleries...but it would pretty much be dead as would all that traffic.
BUT...on the other hand...illegit tubes with full scenes and bit torrent sites with full members area rips have already killed it. Those 15 year olds that used to come to me now go to the tubes and torrents and no longer grow up waiting to get a credit card.
So, even though it would mean the end of my tgp business after all these years...I think it might be the only way to kill the tubes and torrents.
Of course with our luck, the govt. will give the tubes and torrents a free pass just like they did with 2257 laws and copyright laws because it's "user uploaded" and we will end up even MORE fucked than we already are.
