Financial Times iPad App Paying Major Dividends

The Financial Times introduced the world to their iPad application in May.  Less than six months and 400,000 subscribers later, the app has brought in over one million British pounds or roughly $1.6 million for those of you that do not have a universal currency converter on hand. 

At today’s MediaGuardian Changing Advertising Summit in London, FT‘s global commercial director, Ben Hughes, explained the methods behind the paper’s digital success:

“My job is to make the FT brand sweat.  Print [advertising] isn’t dead but media owners are just having to find new ways to put [different models] together.”

Hughes also noted that traditional print advertising has taken a backseat to digital ventures and generates only 40% of FT‘s total revenue.  The business newspaper’s iPad app accounts for 10% of FT‘s new digital subscriptions.