FT.com announces 500,000 registered users, annual profit growth
By Alisa Zykova, Monday 28 July 2008 at 21:07 :: Circulaton & Distribution :: #2001 :: rss
The Financial Times (FT) announced on Monday the number of registered users on its Web site has increased to more than 500,000, and its digital revenues have increased, thanks to a corporate content licensing strategy that enables it to directly secure deals with 350 corporate customers, Le Figaro reported.
A recent European Media and Marketing Survey (EMS) indicated that The Financial Times is the number one paid publication in Europe, with 548,000 readers.
FT Publishing had, since the first half of 2007, a publishing revenue growth of 13% to £188 million while operating profits augmented by 26% to £30 million.
FT's profit growth may be the result of the "publisher's move away from newsstand sales towards subscription revenues, online and overseas sales", wrote the Press Gazette.
Since the launch of FT.com's new access model in October last year, the site has experienced an average of 12,000 new users per week. An FT press release stated that the site has blogs, news aggregators and also allows other sites to have more access to FT content, according to Le Figaro.
The press release also mentioned a 63 percent increase in page views and an 18 percent increase in unique users year-on-year since the beginning of 2007.
Pearson, FT Publishing's parent company, announced a 14 percent publishing revenue rise to £1.97 billion and an operating profit rise of 38 percent to £124 million. FT has sold its stakes in worldwide print publications and intends to launch a Middle Eastern FT version as well as a Chinese wealth management magazine, Press Gazette reported.
Advertising revenues have seen a relatively slower growth of 2 percent in the first half of this year, but according to Pearson, profit is expected to increase even if ad revenue does not, according to Press Gazette.
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