Echo Media manages a network of newspaper billing statements. Advertisers’ pre-printed inserts ride along with invoices that are either mailed or delivered to newspaper subscribers. By reaching consumers in their homes, and with the implied endorsement of a newspaper, advertisers are insured a high opening rate. Typically, each statement allows room for only one or two advertisers. Subscription cycles, with most papers, are monthly, quarterly, bi-yearly, and yearly. The majority of bills delivered duplicate households approximately every 2-3 months.