Japanese porn sells. Not the censored stuff that most offer - it's best to market uncensored dirty Tokyo porn that is extreme like Tsunami Cash's Urabukake. Their site portfolio includes 3 other Japanese niche sites about handjobs and facials. Many famous actresses including Sakura Kiryu, Nao Shiraishi and Sakura Saaya participate in their fetish productions. Although updates are slow to their sites, this Bukkake niche sells very well and ticket numbers are big. Happy Selling! 
Untouched niches are well worth exploring. When new they offer high rewards such as FKK Tour, an operator of guided tours to Germany's unique brothels called FKK Clubs. Prostitution and brothels are legal in Germany and enjoy excellent reputation among international sex tourists and business travelers. Each referral will pay out around 100 US$. Most customers are American and Japanese gentlemen. Webmasters running escort boards and networks can make big coin with this affiliate program as it's perfectly shaped for their audience. 
If you ever wanted to limit your sponsor portfolio to a narrow amount of adult affiliate programs, Met Art Money would be one of those programs you don't want to miss. With their nude art flagship site Most Erotic Teens - Met Art and 3 other artsy and upscale softcore sites they represent some of the best converting erotic sites online of all times. Photographers and models stand in line to have their work featured on their sites - it's a highlight for every professional.
Attractive European sub niche sponsor with very interesting websites. Fitness center sex scenes, catfighting and extremely large breast are in focus on some of their sites while other are dealing about Nylon fetish and sex in public. Not a bad mix at all. I have just discovered them so I can't say too much about their conversions, but I assume they are well worth trying for niche blogs and TGPs.
recently discovered this adult cash program from a signature on GFY forum. It was recommended because some of it's site like Eros Exotica contain some unusually sensual videos shot in Romanian massage parlors. Everybody who observes online porn sites know how expensive it is to shoot creative porn so that kind of made me interested. I am throwing up a couple of banners at this time to see how they convert. Let's see if their seductive production skills spark sales. They do offer a full all access network of various websites with spiffy European models. Many of them don't look lucrative, but 2 or 3 might be worth the effort. 
Certainly, you have seen advertising for this large network of dating and cam sites. Their flagship sites include Penthouse, Adult Friendfinder and Cams. Other specialized dating sites for various niches like fetish, regional and gay/lesbian are available. Most of them have regional appeal that allows users to search for profiles within a certain geographical area like their home town or a travel destination. Landing pages can be optimized for this. Imho that is where Friendfinder beats all other adult dating sites. Localized sponsorship has great potential. Payouts are available by ACH direct deposit and check. 
It's mostly Latina porn on Torbe's network cash site. Torbe is a horny Spaniard who travels the World and shoots porn movies in POV format. It's the best selling Hispanic program around as their tours are available in English, Spanish and French language. On various occasions the protagonist travels to Buenos Aires, Prague or Moscow where he shoots the most famous female porn stars. Quickly, another site is added to his network. Various tools for TGP/MGP and tube webmasters are made available by webmaster THY. PPS and revshare are both available.
Thanks to owner Rick W. Mathodcash has become one of the finest Asian paysite programs around. Their flagship sponsor is 88Square, a high quality softcore babe site with models from Thailand (who look a bit Chinese and Japanese). Revshare with various payout options is available on newest NATS 4.1 affiliate platform. Around a dozen Asian and European sites are combined including Korean porn star Tia Ling, Filipina amateur models, Filipino hardcore porn and some older American pornstar hotties. Good ratios with gallery and contextual advertising. 
Personally, I like small programs putting all their efforts into a small amount of high quality sites. Actually, New Nude Cash is a one site solution for nude art photographer Petter Hegre's flagship site Hegre Art. They have a couple of other sites covering teen and erotic nudity niche, but Hegre is their undisputed top seller. Upscale pricing and frequent updates with great quality erotica content make NNC very profitable with just very little work. Selling them is like selling a product people really want to pay any price for. Petter travels around the world to shoot new content all the time. His travels include Thailand, Japan, South Africa, Mexico, Argentina.
This program mainly promotes itself by advertising and other marketing methods. They do offer an affiliate program, but their support for webmasters is slow and limited. While this might not sound great, it opens opportunities for innovative online entrepreneurs who seek to discover value in sponsors with less competitive tools. Less competitors means much larger pieces of the prey, a great opportunity for excessive profits that would be difficult to achieve with programs who accept each and every 'fly-by-nite' affiliate without monitoring their activities.
