My site last month got 15.8 million hits and it's starting to cost me a fortune for web hosting. Im looking for advice on the best way to make some kind of money back with mobile traffic to atleast cover my hosting costs anything else is a bonus.
You could use responsive advertising via adsense? https://support.google.com/adsense/answer/3213689?hl=en
What countries do you get a lot of your mobile traffic from? I work with a few CPa companies who pay more than $4 for getting someone to pay for a ringtone by SMS through your content locker. This seems to work best in the non English speaking northern European countries.
With that much traffic, you could be selling directly to advertisers but that would take a fair amount of work in setting up the system, developing rate cards and media kits, pitching to the advertisers or their agencies, etc.