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Which is more profitable – an MMO with a monthly subscription or a free-to-play game?

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Some time ago, Lock and I were arguing about which brings more profit – an MMO with a monthly subscription or a free-to-play game with donations. Lock claimed that the first option is better, not some failed projects that became free-to-play. I held a slightly different view. I agree that things are exactly this way in the West, but in my opinion, it's somewhat different in the CIS countries.


If you sum all this up, then over a year of playing, I donated around one hundred dollars. And since I donated rarely and only when necessary (like, “oh wow, there’s a good item on the auction house/in the shop, I should buy it, but I don’t have enough coins!”), this is a very small amount, especially if compared to the amount invested by other players.
A six-month subscription to World of Warcraft costs 359 rubles, which is just over ten bucks, if I'm not mistaken. You can draw your own conclusions from here.
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