Blogging or Video Blogging (Vlogging) is still growing fast with more and more blogs and Vlogs popping up day after day. But, what is the right business/succes model for these social networks emerging like rashes.
A very small percentage of them make some money from running Google or other ads as well as getting sponsorships, but in a world where there will likely be millions of blogging channels and certainly hundreds of thousands of Vlog channels it seems as though the vast majority are destined to make no money whatsoever and ultimately end up on the scrap heap of life.
So which ones are likely to win in the short term?
1. Blogs that talk about other blogs (because most avid blog readers are bloggers themselves).
2. Celebrity bloggers (cos they already have a following).
3. Super-niche blogs that search engine's are likely to pick up on.
4. Blogs linked to existing media companies (and they could still remain independent).
You see the problem today is that other than word of mouth which is naturally insestuous, it is extremely hard to get a (newish) blog (or even Vlog) noticed today. And search engines do not help. Plus no sensible blogger can afford to advertise.
So until the world creates a trusted site that selects blog channels for everyone else (as cable companies and TV networks do for TV channels), reviewing , ranking and promoting only the best - consumers will find it a hit and miss affair finding new blogs and will end up sticking with the ones that they are used to/have time for (i.e. the already existing ones).
In fact the best blogging idea of all may be he who comes out with a simple promotional tool for blogs/Vlogs that could work for any quality site. Until then stick to the above blog niches that will work today and expect to make little or no money until you land a large audience (at least a few hundred thousand page views per day!!).