I remember someone once posted about running one of these lyrics sites. I can't remember if I found it here or elsewhere.
Anyway, their point was that with a lyrics website, someone only wants to go to the website to find the lyrics. Once they have the lyrics they have no desire to look at other other lyrics - they arrive and then leave/bounce immediately. That is why the adverts on these sites are so spammy. They have to hammer you with adverts in that brief moment you are on the website, because you are not going to click through and engage with the site anywhere else. Also, since you probably don't even know what website you are on, you don't have any "lyric website loyalty", so it doesn't even matter if the ads are massively spammy.
I guess then the challenge is to make a website that somehow encourages engagement so the it doesn't have to be so spammy.
But, as a user, I don't want to engage with a lyrics site anymore than it's required to read/copy the lyrics. Simple information retrieval. Also, as a user I tend to remember which lyrics websites are more spammy than others and avoid them when doing Google search.
I guess then it is a challenge to monetize lyrics website, but someone would do a big service to humanity if he/she put lyrics on Wikipedia/Wikibooks-type website.
Interestingly, after a couple dozen lyric searches, I did develop some lyric website loyalty. I'll still come in via search and leave almost immediately after, but I'll actively look for the sites in search results. Criteria include perceived correctness, readability, and not killing my browser (relative to other sites out there).
I also like Songmeanings' comment/user input area, which usually has sensible comments I am occasionally interested in reading.
I tend to click sing365.com links in the search results if I see them. They have a section for user comments which I like to browse. They also manage to load the page up with ads without bothering me. Their bright red "GET A RINGTONE!" text ad actually shows me where the lyrics start.
Anyway, their point was that with a lyrics website, someone only wants to go to the website to find the lyrics. Once they have the lyrics they have no desire to look at other other lyrics - they arrive and then leave/bounce immediately. That is why the adverts on these sites are so spammy. They have to hammer you with adverts in that brief moment you are on the website, because you are not going to click through and engage with the site anywhere else. Also, since you probably don't even know what website you are on, you don't have any "lyric website loyalty", so it doesn't even matter if the ads are massively spammy.
I guess then the challenge is to make a website that somehow encourages engagement so the it doesn't have to be so spammy.