That depends. Some observations, like this one: http://fortuito.us/2007/05/how_ads_really_work_superfans_1 http://fortuito.us/2007/05/how_ads_really_work_superf

That depends. Some observations, like this one: http://fortuito.us/2007/05/how_ads_really_work_superfans_1 http://fortuito.us/2007/05/how_ads_really_work_superfans_1 suggest that a cadre of loyal regular fans don't bother clicking on ads at all. Instead it is the lost google user that is the real money maker. It's an interesting counterpoint that would basically mean that the standard ad model may have issues the further down the long tail you go. It would be interesting to see, and I don't have any data to corroborate this, if the "membership" model shares an inverse relationship to the ad model as you move into smaller and smaller niches.