Does my sperm count go down, or does it make no difference when I masturbate?

Sperm counts. Your sperm count will decrease with ejaculation, and with daily emission it will reach a norm after 48 hrs which will be approx. 50% lower than your norm. The good news is that if you have a normal count you should be able to father a pregnancy even if you ejaculate daily!
No production change. Absolute number of sperm produced is unchanged however, number/ejaculation will be reduced.