I do not recommend dropping the price based on the first month's churn.
1) Add a smaller box for a lower price, don't take away quality, just quantity.
2) Change whomever you are targeting with your marketing. Your box will not suit everyone's budget, and that's fine. You need to realize who your target market is, and try to only market toward them.
Jordan has a great recommendation. We have two price points and it has increased both our retention, conversion rate, and overall satisfaction. Customers like choices, and they often upgrade to the bigger/better box after signing up for the basic/smaller box.
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