A Webmaster, contrary to what the name suggests, is usually a master of nothing. At best, they own some domains and build websites on them. The only thing they have mastered for the most part is FTP and helping you find porn.
A brief timeline of the Adult Webmaster
1990s, people have modems and BBS Sysops supply gifs that download at 2400 or even 9600 baud. The earliest of these webmasters either traded their pictures with other webmasters or scanned them directly out of magazines.
1994: The internet started taking off, a lot of people started to get dialup connections, and porn was received through the alt.binaries.* newsgroups. Shortly thereafter, websites started to pop up offering Adult material for download. Mailing lists were sent out with the new url for the 'members' area which was renamed regularly to prevent 'unpaid' members from gaining access.
1995: credit card merchant accounts became more prevalent, password protection arose, and all of the sudden an industry started to form. Amateur websites of guys and their girlfriends/wifes started popping up, and to make a little extra money, they would often send traffic to Sponsor programs and get compensated.
1997: Both sides of the Adult Webmaster community took off big. The people controlling and driving traffic made money and the Sponsors running the membership sites made money. Often times, the people made more money than they had seen, life was good, things were easy, but, many didn't know why they were making money.
1999: Many many more people entered the game to try and take a piece. Some consolidation and shakeups occurred, but, in general, people were still making good money.
2000: The dot.bomb hit, people that had paper fortunes reevaluated things, more competition led to a little less money in the pockets of webmasters everywhere.
2001: Right after 9/11, there was a chunk taken out of the market. People reconsidered things for a few months, many left, people felt the tide was turning and many sold out leading to consolidation.
2002-2003: The webmasters with business sense started to bring in more revenue. The ones that didn't know why they were making money started taking part-time or full-time jobs. It took a special person to be able to remain full-time in the adult industry.
2004-present: Webmasters are being hit by Visa's tightening noose in terms of credit card acceptance. Some webmasters started to make beer money rather than the fat profits they had enjoyed. Webmasters that got down to business and took things seriously still prosper. Many webmasters talk about long hours, scant sales, Adult Sponsor programs shaving signups, etc.
The Adult Industry is a business -- and it takes no prisoners.