I do if I feel the content is worth it and I currently have multiple subscriptions. However I'm not going to allow ads from any blogger that believes that because I view his content I have to support his website regardless of the quality. The claim that independent bloggers need ad revenue for hosting costs is a joke when you can get dedicated hosting for less than your phone contract, and if you want revenue, create something that is worth it, so people would want to subscribe. Also I will always block 3rd party cookies/trackers regardless.

adding one data point, yes I do. I actually think I'd be better off if I only read that which I subscribed to, i.e. less HN linked articles. It'd be a good way to curate content and save time -- if I am not willing to pay out of pocket for something, I shouldn't waste my time reading it.

One baseball analyst, in particular, Joe Sheehan, has been doing some really open stuff about his newsletter, including financials, etc. It's $35 / year. I usually try to buy a couple of gift subscriptions to friends. I also donate an extra $50 because his content is just that damn good, and it would really hurt me to not have his newsletter to enjoy.

(Interestingly, he only does email newsletters, no web content. Seems to be somewhat to mildly successful at it, although I have no doubt his hourly wage is around minimum.)