Having sold 18 of my websites over the last year, I may be able to help. Each one was an income stream and I built them up over about 7 years -they ranged from games to blogs. Monetization spanned from adsense to ebooks to affiliate products and finally to private sponsorships.
The last one is the only one I mess with now. Firstly, you need to have an authoritative blog and this can be done with amazing design, on page SEO, off page SEO and a bend of organic and paid traffic. The organic comes from keyword research (
heres a brutal list ) and launching up a Chrome Webstore App to your site (check the store for comp, and then have a better logo, etc). Then, buy fiverr traffic from a reputable US/UK/Canada only gig. It will be real and show up in analytics. This will be referenced in your jaw dropping Media Kit, which is a single page PDF/PNG showing how great you are and why they need to pony the fuck up. Have all the socials accnts too and bomb them with followers. Keep feeding your site with helpful 2K+ word posts (easily done by recording a Skype chat and transcribing)
It's a good bit of work, but I can also recommend attending ONE conference in your chosen niche AND MEETING tons of key people in person. They are the ones that will green light the sponsorship of your site and pay. I've seen 7K to 45K annually from a single sponsor
Overall, I've been in this game since 95' and now trying to get back to pen/paper type shit. Hope this helps
Best of luck!