Economist Claims A Million Monthly Mobile Readers As Profits Rise
The Economist reported operating profit of £26.2 ($40.49) million for April-September 2011, and said that its iOS and Android apps have surpassed a combined three million downloads.
Moreover, more than a million people read the Economist on the app each month; the app itself and six articles per issue are free, but full access requires readers to be subscribers.
That £26.2 million profit is up 6 percent year over year, but would have been up nearly twice as much, to 11 percent, if the US dollar hadn’t been so weak, Economist group chairman Rupert Pennant-Rea said in a statement.
Even still, the magazine reported a 12% increase in ad revenue, buoyed by gains in America and Asia.
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