Business 2.0: The Secrets of Drudge Inc.

The secret, in a phrase: "thin media."

Nick Denton observes:

The economics of the Drudge Report: Business 2.0 works out how much Matt Drudge is making from his political news site. The guess: he's making about $800k per year in profit. The analysis understates his traffic — he's doing more than 3.18m pageviews per day. The CPM — at $1 per thousand impressions — sounds about right. But B2.0 also assumes his inventory is entirely sold out, which is ambitious. Regardless, Drudge has a much more robust business model than the big online media players. All hail Drudge, the first nanopublisher.

Oh yeah, and only one employee.