You could build something custom, then sell the adspace.
Google is just going to save you from having to sell the space yourself, but it does take a premium. If you look on WHT there are many people selling ads, or requesting space, they make anything from $10-100 a month per ad, imagine if your site could do that? Google will give you around $10-$20 a month if your pageviews are reasonable.
Giving each profile an ad space ID, this would then allow you to easily track clicks and revenue etc.
I was thinking to use Google Adsense, but the API is accessible only to websites having 100,000 daily page views and that's not an easy goal when starting a new website.
m3xican, Can you share source from where you get info about "the API is accessible only to websites having 100,000 daily page views"? I am not familiar with Google Adsense API. So, interested to know more about it.
Last edited by nancysmith; 05-14-2011 at 02:47 AM.
Reason: Spelling correction
Note: Only websites with over 100,000 daily page views across user pages are eligible to participate in the AdSense API program (read more). If your site does not meet this requirement, you can still monetize your site by using Google AdSense.