Monday, July 12, 2004
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(Some) bloggers get (a little bit) rich
Maureen Ryan reports in the Chicago Tribune that bloggers are starting to rake in the bucks:
I will leave that question for my readers to discuss. However, Ryan reviews the various demographic surveys suggesting that the blog demographic is a lucrative and well-connected one:
That said, one should bear in mind that Ryan is really talking about the peak bloggers at this point. If John Hawkins is raking in $1,000 a month, that's great, but that's not a huge sum of money. [What about you?--ed. I bring in far less than Hawkins -- but I won't deny that it's gratifying to actually earn money from this little venture.] At this point, maybe 5-10 bloggers can earn a decent living from blogging. It's nice that there's a new job category for the BLS and IRS to consider, but we're not talking about a huge economic impact here.posted by Dan on 07.12.04 at 09:56 AM
NOT TAX ADVICE OR ANYTHING, just a FUN quip...
Hah! Let's see them outsource that!posted by: Ezra on 07.12.04 at 09:56 AM [permalink]
It's been my fantasy to make enough money on my weblog-TOC site (punditdrome.com) that I can have an income that will buffer the lean times between selling articles freelance. (I'm a technical writer now, and it's a soul killer.)
At this point, it's still in the realm of fantasy. My counter is up to 28 hits. Woo-hoo!
And Dan, you are a Featured Blog. You can't imagine what an honor it is. :)
If I were online editors of major newspapers, I'd feel more than a little bit burned by all of this.
posted by: praktike on 07.12.04 at 09:56 AM [permalink]
A few points:
First; There seems to be something the papers have been in active denial of; an econimic boom, else this stuff wouldn't be possible. Personally, I blame the Bush Tax cuts, myself. They're killing newspapers.
Secondly: I've been pulling ~70HPD for the last 6 months. One of these days, I'll start trying to make money off this bit.
Third; At an average of ten times my HPD rate, I can't imagine Dan's not getting some income here. It'd be interesting to see at what level of HPD a site becomes profitable.
Forth: What happens to such profitability when the boom goes bust, as it will, eventually. Does the blog, as well?
A little more tax advice for you: Report your income from blogging. It is, after all, required by law.
The upside is that your blog is now a sole proprietorship. Expenses incurred running the site (hosting, software, design, broadband charges) come off your income. Further, you're likely entitled to claim a home office, since you are your own employer. That means the portion of your home devoted to the office is a tax write-off (a proportion of the rent/mortgage, taxes, utilities, etc.) as are office furniture, laptop, etc.posted by: James Joyner on 07.12.04 at 09:56 AM [permalink]
I don't belong to the group of "peak bloggers," so I can't have the same price tag on my blogads as for example, Escaton or InstaPundit, but I have managed to find my niche and reach out to certain individuals who are interested in supporting my blogging by placing ads.
All the Best,
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