From a comment on a TechCrunch post:

"We compete against AdSense for insurance & loan publishers and have found Google’s lack of transparancy and low CPCs (in our market) to be our most effective selling points. Allen Stern’s point was dead on, the 76% payout is an average heavily weighted toward the largest players. I would be shocked if the median publisher topped 60%.

One other consideration – algorithmic keyword-based targeting is pretty hit-or-miss based on the product category. In our space, very few of the top CPC advertisers participate in it based on the low conversion rates, creating low CPC payouts for AdSense."

Source link:  http://www.techcrunch.com/2007/02/25/yahoo-publisher-networks-trojan-horse/

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Google has a hefty lead in getting small publishers to put Google-powered ads on their websites. There is no negotiated deal - advertisers agree to take whatever Google decides to give them. Revenue share terms are not disclosed to these small publishers. The publisher simply places a piece of JavaScript code in the code of their website, the ads appear, and a check comes in the mail. For some, this is easy — for most, they don’t know the first thing about getting code into other code; so they likely hire someone to do this for them, then just leave it alone.

Source link:  http://www.techcrunch.com/2007/02/25/yahoo-publisher-networks-trojan-horse/