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Google is still top of the game for 2 reasons.
Firstly, the whole market is growing and there is a bigger cake. So new players isn't necessarily taking away Adsense's share of the cake. The new players might be growing faster but Google is growing too, look at their last quarter numbers.
Secondly, new players are coming in to fill niches that Adsense might not yet fill or do not want to fill. So we see webmasters going to the alternatives. New alternatives create new ideas for people to build on and so the the players are doing well. However the bulk of the Adsense publishers that are doing well with Adsense isn't changing as fast as those that didn't do well.
So essentially we see lots of changes and the edges but the core remains unchanged.
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