I have often wondered why anyone would spend a million on a webpage. Or expect registration revenues to amount to anything.
$20 bucks a year? For Iditarod? Sounds as if someone has never heard of microeconomics to find the correct market price for your product.
The dot.com failure I was with relied on subscription revenue. We offered a money-back guarantee for a trial membership. Everybody asked for their money back as their tial periods ended. I was thrown overboard with severance about the time the hemorrhaging really got bad. They didn't get rid of the crazy executives who thought up this fraudulent business plan until 3 months later.