Miller

AOL's CEO defends the online service's transition from fee-based to free, and claims that sign-ups since the announcement are ahead of schedule.

Johnathan Miller, AOL's CEO, points to a larger than expected number of member signups for the free version of the service, despite little promotion of the option, as a sign that AOL's decision to go free was the right move, according to CNNMoney. Still, subscriber fees remain the main source of revenue for AOL, and Wall Street has adopted a wait-and-see attitude toward the service's attempt at an online comeback.

AOL's move to free, coming after years of declining paid subscribers, is designed to make the online service return to profitability by allowing AOL to make money off ad revenue. AOL will continue to charge for dial-up access to customers who use the service for their internet connection.