Sources close to the issue were claiming last night that early results from Rupert Murdoch’s Times and Sunday Times paywalls are “disastrous”. A recently spurned Newscorp marketing supplier contacted by The Slog told us:
“The conversion rate from discovery of the firewall to subscription is awful. All eyes are now on the churn from free trial. Given the level of trial, they’re going to need 40% conversion. Frankly, that’s not going to happen.”
Rumours elsewhere persist to the effect that uptake of subscriptions is minimal. While the business model requires somewhere around 7-9% of former free web surfers to sign up, The Slog understands that the figure has never gone beyond 3.8% – and has fallen steadily since Pay-Day on July 2nd.
This could represent mortally wounding news for Newscorp.