Mark Sweney of The Guardian in London reports that the Financial Times application for the iPad has produced $1.5 million in advertising revenue since it was launched in May.
Sweney writes, “Ben Hughes, who is also the paper’s global commercial director, said more than 400,000 subscribers have signed up for the app. He added that it now accounts for 10% of the paper’s new digital subscriptions.
“‘My job is to make the FT brand sweat,’ he told the MediaGuardian Changing Advertising Summit. ‘Print [advertising] isn’t dead but media owners are just having to find new ways to put [different models] together.’
“Hughes said traditional print advertising now accounts for just 40% of the FT’s overall revenue.
“He said changes in the advertising market are not limited to opportunities created by new technology. The FT is also exploiting areas such as events, he pointed out.”
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