Financial Times: App Brings In $1.59 Million In Ad Revenue
October 13, 2010
The Financial Times has announced it generated $1.59 million in ad revenue through its app since it debuted. The Financial Times iPad Edition was released in May.
According to Ben Hughes, who is the paper's deputy chief executive, 400,000 subscribers have signed up for the app. This accounts for nearly 10 percent of its new digital subscriptions.
Hughes stated:
“My job is to make the FT brand sweat,” he told the MediaGuardian Changing Advertising Summit. “Print [advertising] isn’t dead but media owners are just having to find new ways to put [different models] together.”
He also said that print advertising now only makes up 40 percent of his company's total ad revenue. His comments were first published by paidContent.org.
The app offers readers select news articles from both its print and web editions. For a monthly or annual fee, users can have unlimited access to all articles available. Subscriptions can be purchased directly from within the app.
The Financial Times won the Apple Design Award for Best iPad App for 2010.
The Financial Times iPad Edition is available now for free in the App Store.
