I found this post from a couple years ago about admob:
The comments thread is interesting. Apparently admob is mostly a CPC company not CPM. I can only imagine how low the clickthrough rate for golf resorts in hawaii on a sound bomb app are.
While I didn't find much information about iphone app sales or revenue figures I did indeed find some sobering bits about regular web ad gigs.
A good example with published stats is one that we all know: Desktop Tower Defense. http://novelconcepts.wordpress.com/2008/03/11/happy-birthday...
This game has undoubtly spawned one of the biggest viral hypes of the recent years. Nonetheless and despite fairly reasonable advertising efforts under massive traffic it "only" managed to pull in 100k over 12 months, or roughly $11 per hour.
So yes, those hawaiian golf resorts must be paying one hell of a CPC/CPM rate. Wonder what they'd pay me for wearing a t-shirt with their URL. I think I'd do that for a measly $1/hour...
Dev: It took me 5 hours to build and I made $1000.
Reporter: Developer makes $200/hr building iPhone apps.
We've all done this kind of math before (revenue / work time), but I think somewhere the context was lost on this one. Unless somewhere we can find the developer actually saying "I make $200/hr even when I am sleeping."