Good point. But since there's a paywall of 5 articles per month, while a subscriber presumably reads 100's per month (e.g. even just 5 articles a day = 150/month), it seems reasonable the majority of advertising revenue comes from subscribers, or close to it.
Sure there are viral articles that get bigger traction, and it's a "soft" paywall when coming from social media or search, but they're been significantly increasing restrictions on the soft paywall over the past year to impose both daily and monthly limits.
Sure there are viral articles that get bigger traction, and it's a "soft" paywall when coming from social media or search, but they're been significantly increasing restrictions on the soft paywall over the past year to impose both daily and monthly limits.