Here’s an article on WSJ on blogging and how they make money from it.

Can Bloggers Make Money? A back and forth discussion between Jason Calacanis and Alan Meckler (CEO of Jupiter Media) discussing whether making a living from blogging is a viable revenue generating method. There are way too many good examples for this to be a question anymore. Just how good one is at being a blogging entrepreneur differs from person to person.

source