No money in blogs?

Steve Smith at e-Content magazine states in his end of year rap up that “[the blogosphere] will not make money for many, including blog networks like Gawker Media and Weblogs Inc”. In what can be best described as a self serving statement for a media consultant and writer, he goes on to state that he believes the only real value blogs hold is for established media companies who use them to retain their existing audiences.

(via Steve Rubel)