We are trying hard to reduce the cost of the magazine (especially deliver international) and by having the subscription plan is our first step.
Let me explain.
Firstly, the readers get some savings by subscribing other than purchase individually (not to mention the hassle). Secondly, when we reaches a certain number of print subscribers (let say 500), we could confidently do a print run with our local supplier for a cheaper price. Then, we could significantly lower the cost (and thus lower the subscription price). And to be fair to the existing subscribers, they get to extend their subscribing period for free.
It sounds a bit like you want to have your first customers bear your entire initial costs (500 * 88 is over $40k). This is great if you can swing it seems very unlikely if you price yourself entirely beyond what people are used to paying for a monthly print magazine. I think it also cuts out any potential customers who might be willing to pay some non-excessive premium.
There are less blunt instruments than sticker-shocking your entire market - for instance you can offer cheaper print subs and a fancier, Super Platinum Premium Founder's Club version for those who feel like being generous - let's say, 3 years, maybe throw in some advertising space and a mention on a thank you page, etc.
I think this is a reasonable strategy. It's easier to lower prices than to raise them. This is a relatively novel experiment in publishing and as far as I can tell it's totally boot strapped. I'm happy to pay for this essentially "at cost" to participate in the experiment, but I wouldn't be likely to be taken in by a gold star to subsidize other. I think it's ok to try to grow something like this slowly, to buy time to learn without overexposure.
Let me explain.
Firstly, the readers get some savings by subscribing other than purchase individually (not to mention the hassle). Secondly, when we reaches a certain number of print subscribers (let say 500), we could confidently do a print run with our local supplier for a cheaper price. Then, we could significantly lower the cost (and thus lower the subscription price). And to be fair to the existing subscribers, they get to extend their subscribing period for free.