According to the Guardian, the Financial Times is launching an exclusive social network that will cost members up to $4,000 a year. This membership comes with the benefits of networking with “peers and luminaries operating within the digital, new media, mobile and telecoms sectors.” Benefits include tickets to one Financial Times conference, offline networking events and a 12-month premium subscription to the Financial Times website.
For those looking to take their social networking to the next level, this may be a great opportunity as long as you can afford the $4,000 price tag. Other social networks such as A Small World successfully used the exclusive model to attract a highly select group of individuals. Previously, there were rumors floating around that the Wall Street Journal may be launching a similar service in conjunction with LinkedIn. So far nothing has been confirmed.
Niche social networks tied with exclusivity provide a highly valuable service to its members. There is almost an infinite number of “exclusive” groups that could be targeted so I would expect to see these types of networks continue to pop up. One thing that I think would be useful on this network is to name a few of the participating members or at least the companies they represent. This would help some executives make a more informed decision about purchasing a membership.
Would you pay $4,000 for an exclusive social network?