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Turbine's decision to drop Lord of the Rings Online's monthly subscription seems to be paying off. Since LOTRO implemented optional subscriptions and microtransactions, revenues have doubled.
Executive producer Kate Paiz announced the game's newfound strength at GDC Online 2010 (via Joystiq). Paiz also mentioned that a million new accounts have been created since the payment model switch. The microtransaction store (which sells mounts, clothing, character slots, etc.) has been used by 53% of players. Subscriptions, which allow access to all the content you'd have to buy individually at this store, have increased as well.
"When you tell people you no longer have to pay for it, they come in droves," said Paiz.
Turbine made a similar move with Dungeons & Dragons Online and it resulted in a resurgence for that game as well. Other companies with waning MMO's are probably taking notes.