There is the famous quote of trading analog dollars for digital cents. As consumers flocked to the internet, the advertising dollars lagged. For each minute spent online, the dollars never came very close to the dollars spent on TV.
There is an amazing shift happening to mobile right now. There will be over 1 Billion people soon connected to the Internet via a smartphone. Mobile traffic to websites is gaining steam. It won’t be too long until 50% of HubPages traffic is mobile (maybe in the next 12 months). The challenge is mobile advertising rates are less than web rates.
Businesses that created viable models for the lower monetization rates of the internet are going to have to adapt quickly to the lower rates for mobile.