[MikeTaylor]

I don't understand the numbers here. They report 105,000 electronic-only subscribers plus another 100,000 electronic-plus-print subscribers, for a total (follow me closely here) of 205,000 people with subscriptions that allow them to see the Times Online site. That seems to be the total since the Times paywalled itself four months ago, for a monthly average of 51,250 subscribers. But the article then goes on to say "The Times Online site was registering about 21 million unique users a month earlier this year but the figure fell by 87% to about 2.7 million last month" 2.7 million is more than fifty times the figure above. So which is it?

[varjag]

Visitors who don't make it past the paywall perhaps?

[timthorn]

It doesn't make sense to divide the number of subscribers by the number of months - a subscriber is likely to be a long term customer (I appreciate the number of trial subs will be significant, but...), so x/4 seriously understates the monthly average.