Financial Times reaches one million in paid readership

The Financial Times April 1 reached a record paying readership of one million, an all-time high, according to the Financial Times. The milestone was a key strategic goal for the organization and came a year ahead of schedule, the FT says. Operating profits and revenues grew last year, the FT says.

“We have reached this record by developing a winning strategy, shared and supported by our owners Nikkei, who themselves now count more than 650,000 digital subscribers,” said FT CEO John Ridding in a staff note. “By pioneering a subscription model and investing in digital transformation, we have proved that quality journalism can be a quality, growth business. We have also shown the enduring value of independent, authoritative and reliable reporting and analysis in a time of fake news, sensationalism and polarization in media.”

Digital subscriptions now account for more than three-quarters of the FT’s circulation, although the print newspaper continues to be profitable, according to FT. Seventy percent of FT readers are outside the U.K.

This month the FT will move its global headquarters from One Southwark Bridge in London to its historic home, Bracken House in the heart of the City.

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