That is an extremely old Snopes page, written at the dawn of the internet, when pictures were captured on film or tape, not in bytes. I recall reading that very page back then. It does say 'last updated 2006', but the most recent reference in 1999, and only seems to talk about famed snuff films to that date.

To contrast, the main article gives a direct link to such a snuff film as snopes says doesn't exist. Shock sites also had things like the Taliban beheading videos. Snopes is clearly wrong on this one.

I'm not sure how much 'big business' shock sites would have though - I can't see them selling much in the way of subscriptions, only monetising through web ads.