Many publications view their subscription businesses as a few tiers on a marketing funnel, with the bottom comprising the paid subscription. Once the user is there, the first job is done, and the second—retaining those readers—can begin.
By and large, this has been the big focus for publishers over the past few years as they made the pivot from free to paid. And while I think it’s been a necessary focus, there’s an argument to be made that they have left a lot of money on the table.