When The Pay Walls Come Tumbling Down

Paywalls erode (or, their ability to gauge and adjust to price signals properly weakens) as the marginal value of the digital goods behind them decreases. The marginal value of digital good decreases when 1) too little money chases a surplus of content; or 2) other options (Netflix, Sling TV, piracy, or weak demand) become opportunities for greater value to consumers.