Blogonomics

Daniel Lyons concludes that while blogs can do many wonderful things, making huge amounts of money isn't one of them:

Last year the total spent on blog advertising in the United States was a mere $411 million, according to researcher eMarketer. That represents only a sliver of the $23.7 billion spent on U.S. Internet ads last year, which is itself only a fraction of the $276.8 billion spent on all forms of advertising in the U.S. By 2012 blog ad spending will reach $746 million, while overall online ad spending will hit $32 billion, eMarketer says. More money was spent on e-mail advertising last year than was spent on blog advertising—yet you don't see anyone touting e-mail as the next big billion-dollar media business. Technorati, a blog researcher, estimates that bloggers who run ads earn an average of $5,060 per year. Don't call the Ferrari dealer just yet.

The entire article is here.