Last year a regional newspaper in the US tried setting up a “pay-wall”, requiring a payment to access stories on their website.
On October 28, 2009 […] Newsday.com would open its front page, classified ads, movie listings, and school closings to all site visitors, but access beyond this content would require a weekly [USD $5] fee. This fee would be waived for subscribers of the print edition of the paper, as well as for subscribers to parent-company Cablevision’s Internet service.
Through its first three months, only 35 non-[Cablevision], non-Newsday subscribers signed up for the paid web site.
Newsday’s daily circulation is around 400,000. Their pay-wall produced a total annual income of – pro-rata – USD $9,100, or approximately GBP £6,000.

The Times of London, which has just set up their own pay-wall, has a daily circulation of about 500,000. Given that they are a noted paper of record (or used to be), I imagine the Times might be ten times as successful with their pay-wall. In which case they’ll sell 500 weekly subscriptions. At GBP £2 a week, that’ll bring in GBP £52,000 every year.
A Great business model, assuming the operating budget of the Times website is significantly less than £1,000 a week.
If you find yourself starved of news in the absence of the Times, you might try looking…oh, I don’t know, ANYWHERE!
For starters: