I disagree. To realistically sell ads directly to advertisers (or agencies) you have to be big enough to support a dedicated ad sales staff. And even if you have exceptionally valuable ad space, you have to be garnering enough impressions to make talking to you worth the advertiser's time. It would be impossible for many of the ad-supported websites and blogs I enjoy to earn dollar one from this approach.
That's clearly not true since in another comment here someone said they already do this and I doubt they're using a dedicated sales staff since they've mentioned dedicating time to it.
Regardless, it could soon be impossible to earn money with the other approach.
