The Times paywall brings in the bucks

Controversial it may be, and its erection may have haemorrhaged readers, but latest subscription figures revealed by News International show that The Times Online is turning over a tidy sum since it went behind a paywall.

The publisher has stated that 105,000 customers have paid to view the online and mobile (iPad, etc) versions of the site. Plus, a further 100,000 have had a joint print and paper subscription.

Of those, around 50,000 now have an online or mobile device subscription, paying £2 a week, or £9.99 a month for the iPad edition. And many others are paying the £1 per day fee on an ad hoc basis.

While this means that the readership of The Times online has dropped from around 21 million unique visitors a month to about 2 million for The Times and 700,000 for The Sunday Times, the amount being earned from the "experiment" is greater than some originally predicted.

Speaking to the BBC, Rebekah Brooks, chief executive of News International, said: "We are very pleased by the response to our new digital services".

"These figures very clearly show that large numbers of people are willing to pay for quality journalism in digital formats".

Pocket-lint is also pleased that we can now boast to have roughly the same circulation as The Times. Now, if you'd all be willing to pay £2...

Is a paywall a bad idea considering that The Times is making money? Let us know your thoughts in the comments below...