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If the price doubled I would consider the cost still good value for money. But I probably wouldn’t have joined in the first place. When I did subscribe (several years ago now), I ‘justified’ it to myself on the grounds that it was the cost of a magazine subscription and would deliver me similar content. (Only since subscribing have I realised how much content there is, but I’m also one of those people who values physical products more than digital ones despite rationally being able to understand that some digital ones are better than physical ones.)
So putting up the price would be a risk of putting off people who aren’t currently subscribers.
All of that said, I’d be happy to pay £5 a month and still feel it was a bargain.
To play devil’s advocate – I’m not sure that combining a price rise with the launch of OnTableTop would be a good idea. I know that there were many reasons for switching, including the fact that the old system couldn’t support what the team wanted to do, but there will be quite a lot of people who’ll say “I was perfectly happy with the old BoW site so I’d rather have that back than pay any more”.
An idea that might be worth considering is offering an increased membership, say £5/month, making clear that you don’t get anything else for it: no two tier memberships, etc. The team could softly promote it as a ‘patreon’ type of subscription. Your standard £3.79 sub gets you the ‘magazine’. If you’d like to donate more, you can sign up for the £5 ‘show your appreciation’ sub.