The reality is that Giant Bomb should have had premium memberships from day one. I have no idea why they basically waited until all their investment capital was gone to start memberships. Unfortunately for them, they are now stuck in the trap of not being able to monetize their most popular content because of user backlash. Remember the digital riot that started when they discussed locking away an hour of the Bombcast for subs only? The backlash for withholding 720p videos from non-subs even when they moved all their content to YouTube? If they had done this immediately, people would have thrown money at anything Gerstmann did after what happened at Gamespot.
All they had to do was be honest and say, "Look, we have this pile of money to start this thing with but after a while, it's going to run out. Want to support the site? Premium memberships, bro. Trust us, you'll get cool stuff for it."
There was so much of an army behind Jeff that Giant Bomb really didn't need to "establish" anything. They could have zoomed right into premium memberships and people wouldn't have been able to throw Jeff enough money. They could have made a website devoted entirely to Jeff's old "POINTS!" videos and made mad bank.
But now they are stuck and it's become very clear in the past two years that they are incapable of creating consistently new, fresh ideas that anyone feels is worth $50/year or $5/month. I really hate saying that, but it's reality. The first year, they essentially had nothing for premium users other than Happy Hour (which was a weekly trainwreck). They didn't even really start trying to do anything with substance until it was time for all those yearly subs to expire. Even then, what they've done this second year has been really underwhelming as well. They started off strong, but it's really lagged behind in recent months. I'm sure a lot of that has to do with the CBSi acquistion, but it's been over five months now. When you're taking money from people, you've got a responsibility to produce for those people.
Then naturally, there is the question of "Do these guys really need the money now that they are owned by a mega-corporation like CBS?" While I'm sure CBS' coffers have not been swung open for Giant Bomb, it's still a valid question.
It's hard to find people that really feel like they are getting value for their money. A lot of subs are mostly people paying just because they like the guys. And that's fine. But at the end of the day, it's more of a donation than it is a geniune desire to get whatever's behind the paywall. All the real good stuff is free and everyone knows it.
I fully support these guys, but I've been continously baffled as to why they waited until their investment capital was almost completely gone to start premium subs.
Of course, this is just my opinion and you are free to disagree with it. I'm sure someone out there really did like Happy Hour.