Financial Times Group profits rise 17%
The owner of FT group has reported a 21% slump in its overall operating profit for 2013, as its core US education business continues to be hit by the "worst trading conditions" seen in decades. On the other hand the profits for the company's FT group were up by 17% to £55m. FT Group, which includes the Financial Times and Pearson's 50% stake in the Economist Group, reported sales of £449m, down 1% year-on-year, but operating profits were up 17% on 2012. Digital subscribers to FT.com grew 31% year-on-year to 415,000 and now represent almost two-thirds of the FT's total paying audience, powered by a 60% upsurge in corporate users. THE HTML app, which launched in 2011 and bypasses Apple iTunes so as to have a direct relationship with readers, was performing "extremely well", the group said. Mobile now accounts for nearly a quarter of all new subscriptions at the FT, it added. FT.com digital subscriptions of 415,000, more than offset the planned reductions in print circulation, the group said.
The owner of FT group has reported a 21% slump in its overall operating profit for 2013, as its core US education business continues to be hit by the "worst trading conditions" seen in decades. On the other hand the profits for the company's FT group were up by 17% to £55m. FT Group, which includes the Financial Times and Pearson's 50% stake in the Economist Group, reported sales of £449m, down 1% year-on-year, but operating profits were up 17% on 2012. Digital subscribers to FT.com grew 31% year-on-year to 415,000 and now represent almost two-thirds of the FT's total paying audience, powered by a 60% upsurge in corporate users. THE HTML app, which launched in 2011 and bypasses Apple iTunes so as to have a direct relationship with readers, was performing "extremely well", the group said. Mobile now accounts for nearly a quarter of all new subscriptions at the FT, it added. FT.com digital subscriptions of 415,000, more than offset the planned reductions in print circulation, the group said.
My view
In my opinion i personally think that the reasons why FT's profits have rised by 17% is because of the new and digital media. It is all the internet and the smartphones which are helping them raise their profits. This is because people in the new tridition are intracted with the internet and when they have internet i am very sure that no one will be using the old triditional newspaper. This is why their print side was reported very weak, and it was in decline. I think print overall is in decline because people are getting all their news from the internet and because of the advancements in the technology, people can also download the companies app and subscribe to them there. It will not be long and print will be gone, no one will be in the old tridition, buying newspapers as by then they will intract with the new technology.
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