Robert Andrews:

The registration wall, despite being free for a month, resulted in site visits declining by 58 percent. By the time actual payments had been required for a week, visits were down by 67 percent, compared with the old days.This won’t worry many at the paper, since the whole strategy is about courting fewer, more loyal users. And it’s a darn sight better than the 90 percent drop-off that many, including The Times’ editor, have braced for.

I saw numbers popping up about this over the weekend however they were on the Financial Times which I could not see due to a paywall. This is a huge drop, time will tell if the model is lucrative or not.