“The first time around, many paywalls simply did not work. But times have changed. The New York Times success in transforming itself into a company that is markedly less dependent on advertising than it has been in recent years has emboldened many other publishers. The Times now makes more than 20 percent of its revenue on digital-only subscriptions, a number which has been growing quickly. In absolute terms, last quarter, the Times made $85.7 million from these digital products. The question is: Can media organizations that are not huge like the Times or The Washington Post, or business focused like Financial Times or The Wall Street Journal, create meaningful businesses from their paywalls?”