Pavilion Index 2024 Annual Letter
III · The Long Subscriber
Slide 14 of 28

Finding 03 · Retention cohorts, 18-month window

Subscribers don't churn — they fade.

Insight
Median session weight Month 18 vs Month 1
38 %
−61 pts of engagement weight
Cohort size
14,820
Open rate, M18
22.4%
Formal cancel
4.1%
Engagement weight by month after signup
N = 14,820 · 2023 Q1 cohort
100 75 50 25 0 99 38 M1 M3 M6 M9 M12 M15 M18 18 MONTHS · −61 PTS
Spotlight cohort window Context months
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