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I don't think it will fly today. Too many idiots sign up, grab the hosted galleries and expect to make money. They send 1 signup a month if they convince their friend to sign up..
The numbers I hear from my paysiteowner friends are insane. Hundreds of webmasters sign up, but very very few send any decent traffic.
I don't think anyone would pay a flat fee per webmaster unless it included an activity minimum.
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These guys steal your signups: Read here.
And sexsearch.com profit from it.
Check out which sponsors pay thieves here.
And here's a list of clean sponsors.
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