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iPad and mobile are becoming of increasing importance to The Financial Times, accounting for 22 percent of web traffic and 15 percent of new subscriptions during the first half of this year.
Last year, iPad had been responsible for a tenth of new subs, but the FT appears non-compliant with Apple’s new rules which require all subscription transactions go through iTunes Store, giving Apple (NSDQ: AAPL) 30 percent.
FT added 34 percent more digital subs (up to to 230,000) and 49 percent more free registered users (up to 3.7 million) over the last year, according to parent Pearson’s half-year earnings.
Pearson (NYSE: PSO) says “digital subscriptions (are) now the engine of the FT Group’s growth“.
Digital and services now make up 46 percent of FT Group revenue, content-related revenue (ie. not advertising) makes up 57 percent. Advertising grew “modestly” but is something the FT is happy not to rely on.
Web visits to Economist.com, jointly owned by Pearson, are up 33 percent in the year to 140 million annually, print circulation is up 3.7 percent.
FT Group adjusted operating profit is up three percent to £31 ($50.58) million on six percent higher revenue of £203 ($331.25) million.