Almost all news organizations -- they're not bloggers but chances are they're using blogging software (mostly WordPress) -- have figured this out. And they're still not making enough money from advertising. Hence subscriptions. Bloggers can go this route directly with https://substack.com.
Google-owned YouTube's willingness to compensate those who make popular videos has fueled that service's growth and helped it draw a young audience.
The fact that Twitter, Facebook and Instagram have no way of "paying" its top performers, as it were, is interesting. You get paid in eyeballs. In exposure. Since the pay for blogs is usually non-existent, there's some value in the "likes," and most people who envision making money off of their social-media/internet presence need to get a side hustle to their side hustle -- a product they can make and sell.