Here are my thoughts...
The beginning might be very hard, but as you get enough popularity you can make a direct deal with some other sites/companys, which would PAY you to show their banner on your website.
If you have no profit website in terms of visitors, it could be too expensive to advertise your site on popular site(s) or on print.
If you want to make money you have to investigate some of your own too, though there are rare cases when the site is so original or well built, that it could spread mouth to mouth.
Sometimes that could be better than some banner, i.e if I see someone suggesting some site in magazine or real life, there would be a high possibility that I visit it myself. But if seeing some banner or advertisement on TV or whereever, I probably wouldn't be very much interested in it.
That's how I think.
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