I agree with Classics.
Diversification is necessary for your protecion.
Overdiversification will interfere with your potential return.
I don’t have a problem managing multiple affiliate relationships–but it’s easier when you’re the affiliate. It also helps that I managed my relationships with my affiliates when I was an affiliate manager. Managing multiple relationships is a skill.
The approach I’ve tried to take is to focus on one partner a month. And I think 10-20 partners will be plenty for me at some point.