Online is rapidly losing dial-up subscribers. The Company has stopped signing up new broadband customers. Existing broadband subscribers have been notified that they must obtain broadband services independently of AOL. The Company focus is shifting to the selling of content and services without Internet access through a "Bring Your Own Access" plan. Under this plan, subscribers to other ISPs will have free access to AOL content, and they will be able to access other Time Warner content (CNN, Time Inc., Warner Music Group, and Warner Brothers Entertainment) for a monthly fee. The free AOL site will derive revenues through advertising (Time Warner, Inc., 2005a).
AOL's revenue generation by source is summarized in Table 1. The data in the table reflect full-year operations for 2004. As a wholly-owned subsidiary of Time Warner, profitability data for AOL are not publicly available. For the last two years before AOL was acquired by Time Warner, however, the Company's ne
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