A new study published by the Pew Research Center on June 24, 2025, reveals the steep challenges facing publishers that rely on subscriptions. A nationally representative survey of U.S. adults found that 74% encounter paywalls at least occasionally, including 38% who encounter them frequently.

Yet when asked how they respond, the vast majority said they avoid paying:

• 53% look for the same information elsewhere for free

• 32% abandon the effort entirely

• 12% already have a subscription to that site or service

• Only 1% say they paid for access at the paywall

Across all channels, just 17% of Americans reported paying for any online or print news in the past year.

When non-payers were asked why they chose not to subscribe or pay, the top reasons included:

• The availability of free alternatives (49%)

• Belief that the content wasn’t worth paying for (29%)

• Dislike of subscriptions or recurring charges (23%)

The study also highlights demographic divides in willingness to pay:

• 25% of adults 65+ paid for news in the past year, compared to 12% of those 18–29

• 30% of upper-income adults paid, versus 8% of lower-income adults

• 27% of college graduates paid, versus 9% of those with a high school diploma or less

Pew’s findings come at a critical time, as publishers face shrinking ad revenue and are turning to subscriptions, memberships, and paywalls to sustain operations. The research highlights the challenge of converting casual readers into paying customers, even when they repeatedly encounter paywalls.

INSIDER TAKE

Pew’s research underscores a hard truth for subscription executives: paywalls alone rarely convert casual readers into paying subscribers. Despite frequent exposure to paywalls, most consumers either look elsewhere for free content or abandon the effort entirely.

Yet, this is not a dead end. A handful of publishers are proving that value perception, smart bundling, and frictionless experiences can move the needle:

✔ The New York Times: The Times continues to grow its digital subscriber base, topping 10 million paid subscribers globally by early 2025. The company credits its success to a bundle strategy (news + games + cooking + audio), aggressive experimentation with pricing, and significant investment in differentiated content, especially in investigative reporting and international coverage.

✔ The Washington Post: Despite industry headwinds, the Post has seen subscription growth tied to its metered paywall (allowing several free articles before a prompt), robust app experience, and targeted subscription offers tied to major news events (e.g., elections, Supreme Court decisions).

✔ Financial Times: The FT has long succeeded with a premium pricing model and a focus on high-value, niche content. Its subscriber growth has been fueled by a metered paywall, personalized content recommendations, and B2B enterprise licensing deals that spread costs across organizations rather than individuals.

✔ The Athletic (now part of The New York Times): Before its acquisition, The Athletic gained traction with sports fans by offering in-depth, local coverage not available elsewhere. Its niche focus and team-specific content drove loyalty and willingness to pay.

Key takeaways for subscription leaders:

✅ Metered and flexible paywalls outperform hard blocks. Letting readers sample content builds trust and willingness to pay.

✅ Bundles boost perceived value. Combining content verticals (e.g., news, lifestyle, puzzles) increases retention and acquisition.

✅ Niche beats generic. Specialized, differentiated content commands higher conversion rates.

✅ Reduce friction at checkout. Seamless payments (Apple Pay, Google Pay, 1-click) and eliminating unnecessary steps can lift conversions.

✅ Look beyond individual subscriptions. B2B and institutional deals can provide stability where consumer conversion is slow.

Bottom line: Pew’s data highlight deep consumer resistance to paywalls, but the path forward is proven. Subscription executives must move away from blunt access barriers, focus on value-driven bundles, and simplify conversion processes. Those who deliver clear, differentiated benefits and make it easy to buy stand to win.