Financial Times paid readership breaks one million
In an email to staff the paper’s CEO John Ridding said that the FT had broken the threshold ahead of its own schedule of 2020.
The paper was one of the first to experiment with a paywall, requiring readers to pay for some of its content as early as 2002. The FT then went all-in on the subscription model in 2015.
Today the paper relies on online readers for much of its business, with digital subscriptions accounting for three-quarters of its total circulation.
Nikkei, the FT’s parent company, also has 650,000 digital subscribers of its own.
Last year the FT reported operating revenues of £383 million, with a profit of £25 million.
In an email to staff Kita San, chairman of the FT’s parent company Nikkei, said: “Three and a half years ago we made the decision to form a partnership with the FT, believing in the potential of quality journalism and that, with the right investment and long-term vision, the FT could increase its readership.
“We are happy that you have proved us right. This is a testimony that true journalism and hard work will be rewarded by readers, even in this tumultuous age.”