I was led to believe that the site gets a nominal amount each time someone clicks on an ad.
Is this correct?
I believe so but it is only a matter of cents per thousand views or clicks. There are a number of people on Youtube that make a living from their Youtube revenue.
You can get an idea of how much they make from SocialBlade - for example our very own Rhino film producer, were he monetised (he is not), could be earning up to $42 a year from his videos. As I understand it the rate per thousand views varies according to how “advertiser friendly” your channel is. You also need a 1000 subscribers before you can be monetised.
https://socialblade.com/youtube/user/bazza1041
I only mentioned YouTube but SocialBlade covers all social media.
Wow, that truly is a pittance. To get 1000 subscribers one would almost have to be doing it full time. Uploading content almost continually.
Sounds like a lot of work for little reward.
My son got an unexpected £60 from YT one year … I block adds .