You can find examples of national papers of record having successful subscription models for text content. If you're only subscribing to one paper, it'll be one of those. And you can find 1-5 person outfits with strong personal brands (often built in other media) and a loyal following, who specially want a given person's take on things and want to read everything they write. Basically financials that resemble the "1000 true fans" model.
But between those extremes it is a lot harder to make subscriptions work.
You can find examples of national papers of record having successful subscription models for text content. If you're only subscribing to one paper, it'll be one of those. And you can find 1-5 person outfits with strong personal brands (often built in other media) and a loyal following, who specially want a given person's take on things and want to read everything they write. Basically financials that resemble the "1000 true fans" model.
But between those extremes it is a lot harder to make subscriptions work.