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In agreeing to buy The Huffington Post for $315 million, AOL is putting what appears to be a significant premium on the ability to attract and build a community of readers.

Yet as more and more advertising dollars flow to the Web and to mobile devices, demand is rising for popular and prolific online content producers like The Huffington Post. The market for online advertising is expected to increase 14 percent, to $51.9 billion, this year, according to the research firm Borrell Associates

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