[declan]

The WSJ is doing quite well with a leaky paywall and online and print paid subscriptions. Last I checked, WSJ print and digital circulation were up every year for the last half-decade and ad revenue is increasing by double-digit rates y/y.

Their "new business model" is quite successful and the envy of the industry.

[hayksaakian]

I'll concede the point then.

However, it seems like the paywall only works because it's so leaky in the first place.

I'd imagine before the internet, you may have sneaked a peak at a friend's issue of the WSJ or read one at a coffee shop. I suppose the leaky paywall is the modern equivalent.