M24 The reason for the fall in your EPMV is actually tied to a change in your traffic's make-up, rather than due to the reasons suggested reasons above.
Advertisers are willing to pay more for some users than they are for others. This means that sometimes, we can see an increase in overall traffic but a decrease in EPMV. I've shared some values below, hiding some of the more sensitive data that illustrates this:
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You can see that your EPMV for India traffic and EPMV for United States traffic hasn't actually fluctuated too much. There's a slight dip in both, but within the expected margin of error. However, if we look at traffic - Indian traffic has grown by 158% and US traffic has shrunk by 19%. This means that the high value traffic has decreased and the low value (to advertisers) traffic has increased. Despite neither type of traffic seeing a massive shift in EPMV, the overall EPMV is going to decline slightly.
It might be worth looking into your US traffic within our analytics to see what content they prefer, as focusing on that is your best bet at increasing revenue, if that's a priority. It's making roughly 100x more revenue per 1000 visitors than your traffic from India.
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