The Financial Times launched its iPad app back in May.Since then, more than 400,000 subscribers have signed on and it’s generated more than 1 million British pounds (or about $1.6 million), in ad revenue, The Guardian reports.
The FT’s deputy chief executive told The Guardian that traditional print revenue now only accounts for 40% of the paper’s overall revenue: “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.”
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