Have you subscribed or paid for many? If so, thank you! But sadly, most of us don't.
I'm not talking big conglomerates, I'm talking about independent journalism or folks who are working to build something meaningful or beneficial to me, like webcomics or fantasy hockey.
Since people started getting news online for free, quality independent journalism has plummeted and we've been left with mostly corpo media with a few indies hanging on or getting absorbed into corpo. I think it's a tragedy which adblockers have accelerated.
Back in the day, before ad blockers general unobtrusive ads generated more revenue per site visit. As ad blockers become popular, the value of those same ads were worth less.
So, to answer your question, they were able to pay the bills with discreet ads which we decided were too annoying, leading to the current spiral of decline.