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After a windfall year of subscriber acquisitions, the Financial Times has found itself in the enviable position of needing to solve a problem most publishers would love to have: Retention.
The London-based publication grew its digital subscriptions by 6% year-over-year in 2020, bringing its total number of paying customers to 1.1 million: 960,000 digital and 140,000 print.
While the publisher has by no means abandoned its efforts to recruit new readers, its traffic has hovered comfortably at nearly 16 million unique visitors per month, leading company executives to turn their attention toward retention, especially customer lifetime value, the company said.
In line with its renewed focus on keeping subscribers satisfied, the Financial Times named Fiona Spooner as its managing director of consumer revenue in early April.