> Most of Tumblr is not, and has never been, NSFW. The fact that the site permits such blogs to exist does not in any way mean that the vast majority of it could not easily support regular ads.
Most of the cost and page views on Tumblr came from NSFW. Everything else was a really long tail. It costs more money to monetize the long tail than the long tail can be monetized for.
> It shouldn't even be difficult for Tumblr to enforce a separation between the two—a hard requirement for any blog that hosts adult content to be marked as such, and blogs with adult content only get ads from advertisers who have explicitly indicated that they're OK with that
Advertisers for non-explicit content to not want to be associated with non-clean content whatever that not clean content may be. Tucker Carlson is much cleaner than "daddybeatshisproperty" and there are successful campaigns to pull P&G and its likes ads from Fox News. Now imagine "Dirty Mouth, clean it up!" ad next to ... well... something something in your mouth. The screen caps of that would be on youtube in half and hour and on all TV channels by the evening news. There's no way Mars, Inc would be Ok with that hit and they are rather edgy in their commercials: https://www.youtube.com/watch?v=Bxmkiy9txBE
> Now, granted, it may still not be a multi-billion-dollar enterprise. I don't know much about the economics of ad impressions. But that doesn't mean it can't be profitable.
Right. So it at most a lifestyle business, not a multi hundred million dollar operation.
P.S. Reality does not care about downvotes. Tumblr lost money since its inception because it cannot get enough ad money to coverts its costs. And it cannot get enough ad money because of its content, not because there's no ad money.