Arthur Ochs Sulzberger Jr's letter to New York Times subscribers announcing the new paywall and digital editions

While I understand their reasons for the move, current limitations of the service make it less compelling. Time will tell how successful they will be, but I am optimistic given the Times’ stance towards existing subscribers:

If you are a home delivery subscriber of The New York Times, you will continue to have full and free access to our news, information, opinion and the rest of our rich offerings on your computer, smartphone and tablet.

Many people have tried to create a sustainable model for digital publications, none have succeeded. I hope that this is the first.