Big L (Elias) is a respectable guy, YEP is a great network to work with; we've made a lot of $$$ with them in the past, so my opinion is probably biased.
YEP is probably the most honest and straight forward network I've ever worked with:
- Easy to get ahold of Elias, even at 3AM
- Any issues resolved immediately
- Compensated for losses when advertiser was down
- Compensation for for my banks wire transfer fees
- The fact that I sometimes owned YEP money - rounding up to the nearest 1,000 or 10,000 (if you're doing enough volume)
With respect to mobile offers specifically, I don't necessarily see them dying, just becoming much harder for affiliates to promote.
I think you can hit on a few key reasons why mobile offers, including ringtones, horoscopes, and everything in between, are becoming less attractive offers for affiliates to promote:
No industry-standard compliance
Google wants a checkbox on the the first page before any personal information (i.e. name, gender, phone number, etc) is sent. Most internal compliance teams - including the carriers - want it before PIN confirmation.
The mobile carriers
Between AT&T lowering it's rebill to $9.99 (from $19.99), Sprint/Nextel/Boost being in and out of the game all the time, Verizon being chargeback-happy, and many more reasons, the carriers themselves have made it very difficult to continue with business as usual.
Cost of traffic
On some Social Networking sites, it just isn't financially feasible to run PPC to mobile offers. Between MySpace's shitty traffic quality and .25/click pricing, it's essentially impossible for affiliates to profit. Facebook you can make a buck or two but the competition is so high, it's like a marginal race to the bottom, the winner is whoever is willing to take the last amount home.
The economy
Hate to say it, but the mobile industry isn't is not unaffected by the recession. Whether you're marketing crush offers to teens or sports ringtones to adults, there are plenty of family come-to-jesus meetings all around the country as families re evaulate their budgets and reforce frugality.
Market saturation
There is obviously not a long-term market here; this is get in while the getting's good. This is (...was?) a short-lived industry, not only because of saturation but also because of the lack of substance, which leads me to....
Substance of offers
Excluding Ringtone offers here. At least with ringtones, you knew when you signed up you were going to get the ringtone that you were interested in. Want an eminem ringtone? It may be digital but it's something of substance and a product that many people value. Crush? Telling young teens that they are going to find out who has a crush on them is obviously very deceptive, and there's simply no value to the user.
Anyway, that's my two cents on the state of the mobile industry. Personally I'm still promoting mobile but not nearly as heavy as in years prior.
(BTW, I'm not saying that advertisers aren't still doing hundred thousand dollar media buys and there are still a handful of people laughing all the way to the bank. Plenty of folks are still making a killing mobile. )