I think it's not as much related to the current economic situation (gas prices are high in every part of the world), but more the total abundance of freely and easily obtainable high quality porn.
If you get in on some private torrent trackers, there's such a stupendous amount of hi-def movies available it's enough to supply 5 paysites with content for a lifetime.
A lot of students (who are a semi-decent sized part of the market) are turning to that instead of whipping out the plastic.
As said though, if you have a niche that's not "mainstream", you'll still see good signups, but stuff like teen is on a decline as far as I can tell.
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