I too have thought about that. In fact, I even told my members earlier this year that I would be doing more video updates and less photo updates. I've not had a single complaint. I get more member requests for videos than photos and looking at the download reports, videos are downloaded much more than my photo content.
However, my only concern is that, down the line, if I started offering more MHG's instead of FHG's, some affiliates might stop promoting my site because they only post picture galleries.....
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