When I took over as Chronicler, the paper version (which was all there was), had 27 subscribers. In a barony the size of Carolingia, I'd argue that was already so marginal as to be irrelevant. When I passed it on, the emailed PDF had about 140 subscribers, plus the half dozen paper copies we were still required to produce by corporate/kingdom policy.

And yes, this is one area where I think policy is lagging reality, and the newsletter requirements are a burdensome waste of resources on a huge scale.