The ad blindness alone will certainly reduce revenues, but two things are presently known:

1. The number of ads allowed has changed, in fact there is no set number "max"

2. Users vote with their feet (or ad blockers for such aggressive advertising).

Look at the presentation from the USERS point of view and that will help define "how many ads" is appropriate.

The upcoming Chrome ads filter will only allow 30% ad density on mobile pages.

mobile ad requirement: 1 single 300x250 = 833 (30% of px of main content needed. Assuming every paragraph is about 200px, one ad every ~4 paragraphs. Less if you have longer run on content or more paragraphs needed if you run shorter paragraphs. It's about the height and %. Note, the end of post ad (after main content and comments / discussions) usually does not count toward the density calculation, but it varies by reviewer.

After which, there is no limit.

I have put a 300x250 ad on every paragraph in mobile

I'm surprised the comment above hasn't provoked more replies.

Putting one large ad at every paragraph is madness. It's an exceptionally good way to annoy your readers in my opinion. I'm totally perplexed about what you hope to achieve by doing that. I'm at a loss to say anything else.

Putting one large ad at every paragraph is madness. It's an exceptionally good way to annoy your readers in my opinion. I'm totally perplexed about what you hope to achieve by doing that. I'm at a loss to say anything else.

Agreed. After 2 or 3 paragraphs, I would think you are nothing more than a click-bait site not worth my time.

Just how long are these paragraphs?

I can't imagine an ad after every paragraph unless the paragraphs are especially long, which would make the pretty unreadable anyway.

Are there images in the content?

I'm less clear on imaages, wheter they count towards the content % or not, but I would think (hope) so.

I ran across a culinary website yesterday that has a great Google search ranking. It had 17 display ads on one page!

I've noticed that the top earning ad starts earning less the more ads I add further below.

Then there's the user experience factor that will keep people from returning to your site as well as forming a negative impression. I've always tried for the opposite of that effect, to cultivate a positive impression that encourages them to return as well as recommend the site to friends and in links.

@azlinda how long was the page? Was it an infinite scroll website that continues to add content as you scroll down the page? Many sites now use infinite scroll in place of pagination, the user gets the impression that the they are viewing a single page whereas in reality new content (pages) is being added as they scroll.

Was it an infinite scroll website that continues to add content as you scroll down the page?

I detest those sites and especially so on mobile. I don't have to scroll for very long to realise the type of site it is and I'm outta there.

@NickMNS - I scrolled down quite a ways before I got to the end. The ridiculous thing is that every AdSense ad on the page was the same ad!