FT digital subscriptions hike boosts group profits

Digital subscriptions to FT.com increased by 34 per cent in the first half of the year, according to half year results released today by FT Group owner Pearson.

The latest figures show the FT Group, which publishes the Financial Times, report a seven per cent hike in sales and three per cent underlying growth in profit year-on-year, which it claims was "enhanced by digital subscriptions".

As well as a 34 per cent increase in subscriptions to almost 230,000, FT.com also saw its registered user base increase by 49 per cent to 3.7 million.

The group also claims mobile devices now account for 22 per cent of FT.com traffic and more than 15 per cent of its new subscriptions.

Following the launch of its new web-based iPad and iPhone app earlier this year, the FT Group claimed it had been viewed 150,000 times 10 days after launch. Now it claims figures for June show the app attracted more than 230,000 users.

Today's (29 July) report shows a four per cent increase in the Financial Times' total paid circulation, across print and online, compared to 2010.

Pearson added that the FT Group is "well placed to grow even in tough markets for print circulation and advertising".

"We expect digital subscriptions, now the engine of the FT Group’s growth, to continue to build steadily."

Pearson also reported figures for the Economist, in which it has a 50 per cent stake.

The title was said to have increased global weekly circulation by 3.7 per cent to 1.47 million in the period of July to December 2010.

It also reported online visits had increased by 33 per cent year on year to 140 million, for the 12 months ending 30 June 2011.

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