The media industry was among the first affected by digitization, leading to challenging economic circumstances. In particular, news publishers have faced high losses in revenue from traditional sources, while digital advertising revenues have proven to be insufficient to offset these losses. Thus, news publishers adapt their content monetization strategies by means of digital paywalls. These instruments regulate users' access to the website by separating free from paid content. Hereby, the news publishers' goal is to convert non-paying website visitors into subscribers and thus to establish a...