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That's a very, very common practice and has been popular for many years.
Back when I personally subscribed to porn websites, I always did that. If I liked the site and felt that it was worth sticking with, I would just re-subscribe at the end of the month and let the rebills occur naturally. If I didn't think it was worth it, by cancelling at the beginning I removed the risk of forgetting to cancel later.
Most of the time I didn't choose to re-subscribe, because it was easy to watch all the content on the site in a month's time and the updates weren't frequent enough to be worth $29.99 (or whatever) a month. The ones I stuck with were invariably the mega-multi-sites that had far more existing content than I could work through in four weeks.
I haven't subscribed to one in years, but I still do a fair amount of IT consulting work for pornsite owners, so I get to see their content, how often it's updated, etc. I have helped a few go through their competitors websites to find out what they were concentrating on, so my clients could concentrate on something else. Overall, my assessment of subscription pornsites hasn't changed in the last few years - most still don't have enough existing content or frequent enough updates to make them worth $29.99 a month.
If I were you, I would go through your pornsite and look at is the way a subscriber would. Is there enough there to be worth paying for a subscription each month, as opposed to spending roughly the same thing for a megasite, or even one of your competitor's sites? If not, what value-added services can you provide to give you the edge?
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