There’s still plenty of money to be made in this industry, but like most things in life, you’ll get out of it what you put into it.
You can make a profit buying advertising, but it’s difficult and expensive.
You can also make a profit by becoming extraordinarily good search engine optimizer.
The best way, IMO, to make it in this business is to target a narrow niche, learn all you can about it, and design the most authoritative and orginal website around that niche as you can. If you have lots of high quality content, you should be able to make some money.
Generating unique and high quality content is a lot of work though.
Good luck, and welcome!