Chapter III · Engagement Decay 07 / 12

Retention Analysis — Monthly Cohort, 2024

Subscribers don’t churn — they fade.

Average pages written per subscriber across their first seven months

PAGES 0 10 20 30 40 47 38 26 19 14 11 8 Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 −32% ACTIVE FADING