500$ million made by Top 50K blogs in 2006

According to a study done by Chitika and The University of Texas, the Top 50,000 blogs in 2006 made as much as $500 million. Talk about making money online!!

The approach used to calculate this might be debatable since the data was extrapolated from 12,000 blogs. But, the fact still remains that a hell of a lot of money was made by the Top Blogs.

The gist of the report is:

• The top 1% accounted for approximately 20% of the total revenue.
• The top 5% accounted for approximately 50% of the total revenue.
• The top 10% accounted for approximately 80% of the total revenue.
• The top 15% accounted for approximately 90% of the total revenue.