Of all the media revenue models, subscriptions can be the most tricky to execute well. There are just so many variables at play that impact a publisher's ability to succeed. You have to figure out what to place both in front of and beyond your paywall, how to price your subscription, how to convert free readers into paid subscribers, and how to reduce your churn.

And that's just scratching the surface. Getting one of these variables wrong can mean all the difference in determining whether a subscription business succeeds or fails.

That's why I convened a panel of experts to dive into the nuances of subscription economics and identify the strategies that will increase your chances for success. They included:

Peter Ericson, CEO of the Leaky Paywall subscription platform, which helps publishers seamlessly build their audience and grow paid subscriptions

Michael Donoghue, CEO of Subtext, a platform that allows publishers to send text messages to their paid subscribers

Jane Friedman, founder of The Hot Sheet, the most successful paid newsletter that covers the book industry

Randy Cassingham, founder of This is True, possibly the world's first paid email newsletter