Many site owners could have their warez sites of plenty of traffic, but since many PPC/CPM ads are not allowed to display in those sites that they wont monetize very well. plus the host would be costing for the high traffic. so how to deal with that? the audience wont click those ads because nothing interesting from them at all and they can see thats ads totally.
the site owner could try to sell the traffic in fiverr if most of the traffic that better from some tier1/tier2 countries.
also they can set up some adspaces and find some sponsors to advertise in. go to buysellads and post the job, however to monetize the best it depends on the quality of the traffic as well.
so go to those networks such as fiverr or buysellads and start up the new monetize trial. good luck!
more choices, you may put pop ads to increase your revenue, join Popads and apply the ad code. there are also similar sites like infolinks and Taboola and mgid you can try.