I've been thinking on launching a new project with following category like quotes site, love story or scary story site. How do you monetize this type of sites(if traffic is already established)? Also how do you market them...
Have a go at building a MFA site and then throw in some amazon products and stuff. So for example if people are interested in quotes, you might try offering related books from amazon about the person to whom the quote is attributed.
Social bookmarking sites like Digg and StumbleUpon works quite well with sites in the entertainment niche. Getting traffic in this niche is relatively easy. The problem is your visitors won't be buying anything. They're just looking for fun.
I think there is potential for this type of site. But you should try to make it themed, like quotes around specific topics. Try to choose topics that have potential affiliate products associated. You can then put affiliate ads on your site, or (even better), write a quick topical ebook as a giveaway and use it to harvest opt-in email addresses. Use email to sell your affiliate products - which is much more effective than banner ads.
I think that selling books from Amazon or Ebay would be good, books about stories, quotes. And some ppc programs.
If I were you I would promote some CPA or Leads with products related to sexual stuff for love website, including online dating. lol But I have no idea about scary website for now.
I would say based on the visitor interests and preferences send them to a niche white label dating site - you can now create these sites easily in a couple of minutes. For example Dating Factory white label solution allows you to change your site look and feel completely - just make sure dating sites look similar to your main portal where the traffic goes to initially, so people feel they are on the same site, and create niche dating sites on the sub-domains, for example: dating.yourmainsite.com adult.yourmainsite.com singleparents.yourmainsite.com ... etc. I know many people who tried - e.g. datingza.expatica.com - and it works really well.