Technorati is releasing their State of the Blogosphere 2008 this week. I find this very interesting, as you can imagine, especially their statement "Blogs are Profitable".
The majority of bloggers we surveyed currently have advertising on their blogs. Among those with advertising, the mean annual investment in their blog is $1,800, but it's paying off. The mean annual revenue is $6,000 with $75K+ in revenue for those with 100,000 or more unique visitors per month. Note: median investment and revenue (which is listed below) is significantly lower. They are also earning CPMs.
Bloggers are sophisticated in using self serve tools for search, display, and affiliate advertising, and are increasingly turning to ad and blog networks. Many bloggers without advertising may consider it when their blogs grow - the inability to set up advertising will not be a factor.
Now I have a goal. I need 100,000 unique visitors each month. I'm almost half way there...