Media companies themselves prefer traditional subscriptions, so this really didn't work out. I don't exactly understand the business behind it since I am a developer, just that I know about this from people I work with. (EDIT: But I see about Blendle now - I really hope it works for them.)
Pretty sure it has something to do with "recurrent revenue". Having 100 subscriptions means you have a guaranteed that the in the next month you will get 100 * cost in. On the other hand being a pay perview model leaves you to the risk of having high fluctuation of costs. Payperview I see it favored for content providers who provide high cost content once in a while. On the other hand, making a subscription based model works better for content that you put out fast and at a relativelly low cost IMO
