I've written about why I chose advertising over freemium for Pixova. I haven't written about what that decision looks like in practice after 6 months. Here's the honest version.
The model in one sentence
Pixova is free, unlimited, no account required. Revenue comes from ads displayed on the page. More sessions = more ad impressions = more revenue.
What actually drives revenue
Three variables determine ad revenue: sessions, pages per session, and CPM (cost per thousand impressions from advertisers).
Sessions I can influence through SEO and content — that's the primary lever I've been pulling. Pages per session I can influence through product decisions that make users want to generate more images in a session. CPM I can't influence — it's set by advertiser demand and fluctuates with season and market conditions.
Q4 (October-December) CPMs are historically 2-3x higher than Q1-Q2 because advertisers spend more before the holidays. This means the same traffic in October is worth significantly more than in February. Planning for this seasonality matters.
The uncomfortable truth about scale
Ad revenue only becomes meaningful at scale that takes time to reach. The first few months of content building produced traffic that generated almost nothing in ad terms — not because the model is broken, but because CPM revenue requires volume that a new site doesn't have.
Month 6 looks different from month 1. But month 1 looked like a decision that might not work, because the revenue signal was near zero while the content investment was already happening.
If I needed the product to pay for itself in month 2, ad-supported wouldn't have worked. The timeline for this model is longer than freemium.
The metric I actually watch
Revenue per thousand sessions (not per thousand impressions, which is the advertiser metric). This tells me how much each batch of traffic is worth regardless of how it's distributed across pages.
When this number grows, it means either CPMs are rising or users are going deeper into the product (more pages per session). When it falls, one of those things is moving in the wrong direction.
This metric is more actionable than raw ad revenue because it normalizes for traffic volume and tells you something about session quality.
What I'd tell someone considering this model
It works, but it requires patience with the timeline and honesty about the scale requirement. If your product can realistically reach the traffic volume needed at reasonable CPMs — and content SEO gives you a path to that without paid acquisition — it's a clean model that aligns your incentives with genuine user utility.
If you need revenue before traffic builds, it's the wrong model.