I believe affiliates are still important and relevant in today's adult internet because they are able to add site growth from areas that you might be weak in.
Take media buying for example. Media buying is an art form and there are many successful affiliates that simply buy huge amounts of media to promote affiliate programs. They'll promote whatever converts and pays them the most - making profit between buying the media and "selling" it to your affiliate program. If your content converts, you need an affiliate program to work with media buyers!
Or perhaps their expertise is in second tier social media (so not twitter/facebook/instagram but hyves or tumblr). If you ignore affiliates, you're only going to grow as big as your personal expertise and staff will allow you to.
Affiliates multiply your growth and that's the key to be BIG.
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