View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

FT Group boosts profits to £55 million as business daily’s digital subs rise to 415,000

By Darren Boyle

The FT Group made a profit of £55 million last year despite plunging print circulation figures for the FT according to results reported this morning.

Profit was said to be up 17 per cent year on year, on an underlying basis.

According to parent company Pearson, the FT’s total circulation grew by 8 per cent to 652,000 when digital subscribers are added to the print total.

The FT claims that this circulation figure is the highest "paying readership" in the newspaper’s 126-year history. The current print circulation of the FT is 234,000 – of which 23,764 are bulk copies.

FT Group said in a statement: “FT.com digital subscriptions grew 31 per cent to 415,000, more than offsetting planned reductions in print circulation. Digital subscribers now represent almost two-thirds of the FT’s total paying audience and corporate users grew nearly 60 per cent to more than 260,000.

“Mobile is an increasingly important channel for the FT, driving 62 percent of subscriber consumption, 45 per cent of total traffic and almost a quarter of new digital subscriptions. The FT’s flagship web app now has more than five million users and new FT apps on Google Newsstand and Flipboard have strengthened our mobile offering.”

FT Group reported overall turnover up 1 per cent to £449m for 2013.

Content from our partners
Publishing on the open web is broken, how generative AI could help fix it
Impress: Regulation, arbitration and complaints resolution
Papermule: Workflow automation for publishers

As well as the Financial Times, FT Group includes a 50 per cent share in The Economist. Global print circulation of The Economist hit a new high in 2013 of 1.6m.

Mergermarket also contributed to FT Group's bottom line. That business was sold on 4 February to BC Partners for £382m, but it contributed £108m of revenue and £28m of adjusted operating profit (before central costs) to the FT Group.

Read the full results announcement for parent company Pearson here.

 

Topics in this article :

Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network