Felix Salmon writes an extremely interesting piece on the future of blogonomics and why hunting for pageviews should be regarded as the old paradigm of ad revenue:
Publishers make money by selling readers, not adspace, and that if he’s going to make money, he’s going to have to do so by getting high-value readers that companies want to reach. At the moment, both Blodget and his advertisers are stuck in an increasingly out-of-date paradigm wherein pageviews serve as a proxy for readers, but today, unless you’re Demand Media or the like, that paradigm is doomed.
The job of the editorial side at TBI, then, should not be to maximize pageviews. Instead, it should be to create the best-quality content for the readers that Blodget wants: to build a large and loyal readership base which feels that it has a strong relationship with the site. Once the editorial side has built that readership, then it’s the job of the business side to monetize it.