The panel I attended the other night led me to some conclusions that this market is beginning to establish itself on an economically-viable scale. This brings up the question of just how do bloggers make money? Journalists and other writers make a living in both freelance and more traditional, company environments. Bloggers have been accorded the same opportunities and therefore should have the same responsibilities.
Advertising often plays a major role as the driver of compensation in the blogosphere. Advertisers can reward bloggers who inspire large or passionate audiences. Advertisements establish a clear space and format on the site. They also enable blog readers to buy goods and services from companies or individuals who appreciate blogs that support their beliefs. Moreover, ads are expected.
In considering the likes of Nick Denton, Arianna Huffington, and Jason Calacanis, it is important to understand they represent the small minority in the blogosphere who are actually making a living. Mark Cuban does not need to blog for his living; he just likes it and is good at it, and his blogged opinions often reflect upon his overall business strategy, whether that be HDTV, search engines, or the simultaneous release of theatrical films and their DVDs. These people have developed their reputation and following, often within the very same MSM with which they are now competing. Writing in general has long been driven by a starving-artist factor. In its early form, blogging is certainly no exception to this rule.