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Really great analysis and points on add-on products - I think two items that weren't mentioned but deserve attention is 1) subs typically offer more predictable cash flow, making running and developing a business a lot easier, and 2) dependence on ad revenue, especially if bought on a CPM, creates momentum for clickier and clickier headlines; you could say any profit motive will do this, but audience size and surges seem to bring it in spades...

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