40% are "sleepers". Meaning nearly half of their subscription revenue is from people who forgot they had it, don't use it, and will keep getting auto-renewed until something reminds them they're paying for this thing they don't want.
When your product is so worthless and uncompelling on nearly half customers don't use it and your business model relies on them forgetting they're paying for it, then your industry is DONE.
Mainstream/Legacy newstainment is absolute garbage. Not worth your time if it is free.