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Financial Times

Company

One of the leading business newspapers in the world.

Owners:
Nikkei

Owners

+ Nikkei

Performance Indicators

For July, 2015 the average daily number of readers of Financial Times in the world makes about 2.2 million people. The number of paid Internet subscribers makes more than 500 thousand human. At the end of 2014 the circulation of Financial Times grew by 10%, up to 720 thousand copies.

History

1888: Start of the edition of the newspaper

The Financial Times newspaper is issued since 1888. Then it was placed on only four newspaper sheets.

1893: Transition to printing on gray-pink sheets

In 1893 publishers thought up distinctive feature for the newspaper — to print it on gray-pink sheets, this practice remains still.

1957: The Pearson holding purchased Financial Times

In 1957 the Pearson media holding purchased Financial Times.

1995: Start of the website

In 1995 the website of the newspaper was started.

2011: Apple expels the FT application from Appstore

In September, 2011 it became known that the Apple company deleted the Financial Times applications for iPhone and iPad from Appstore after the newspaper refused to give it 30% of revenue and to share data on users[1]. Thus two-month opposition of the companies terminated. In June Apple mitigated conditions of a design of a subscription in applications for the devices, having lifted limits for pricing and the requirement to offer a subscription in the application if the edition sells it on the website. But at the same time Apple saved prohibition on readdressing of the user on the website of the edition for a design of a subscription bypassing Apple. Despite it, in the FT applications readdressing remained also after June 30 — the deadline set to Apple for developers.

According to the CEO of FT John Riddinga, commission assignments, how many control of Apple over data of users which is actually tearing off producers of content from his consumers did not arrange the edition not so much. The companies conducted several months negotiations concerning terms of subscription and access to user data, but the agreement did not manage to be reached.

"The FT applications for iPad and iPhone are from now on unavailable to new users through iTunes. We suggest our readers to use the new web application available to the address app.ft.com", it is told on the edition website.

Access to the materials FT via the web interface for owners of devices from Apple costs from $5 to $7.5 a week. Earlier installed applications of FT for devices of Apple will continue to work, but without upgradeability.

According to BBC the online products and new technologies manager of FT Stephen Pinches, he trusts in the future of web applications, and "the cost intensity and impracticality of support of separate applications for each platform became the main reason of start of app.ft.com". According to him, the web application of FT this year will earn from Android, PlayBook, WebOS and other OS, and it "the most logical and strategically correct approach".

The choice between development of the customized application for devices of Apple and the universal web application, close on functionality, based on new HTML5 standard, considerably is displaced towards the last, in any case for large players of the market, writes the technology blog Memeburn. In addition to FT, on web model Amazon works, the direct competitor of Apple which just is not able to afford to pay the 30% commission, and Walmart has both versions. Recently there were rumors that the web application will start also Facebook.

According to The Telegraph, in the first half of the year 2011 the Financial Times edition gained a quarter of income on the Internet, and applications for mobile devices brought it 22% of traffic and 15% of new subscriptions. In total the online subscription for Financial Times was issued by more than 220,000 people, for 2010 year proceeds from sales of online content grew by 47%.

The Telegraph considers that losses of FT from a gap with Apple will be sensitive (see activity Indicators for the first half of the year 2011 above). FT does not refuse sale through Appstore of other programs which are on sale on bespodpisochny model. It is, for example, about financed by the advertizing FT Travel and How to Spend It started in September.

2013: Strategy of development of digital applications

In April, 2013 in Moscow Andrew Betts, the director and the founder of FT Labs represents experience of Financial Times in mastering of different channels of distribution of newspaper and journal products, creation of paid access to content on the Internet to lectures and mobile applications on the basis of html-5 technology which are capable to work in offline and do not demand the publication in App Store.

"The protocol and technologies should not create obstacles in content propagation path. The journal product is not comparable with interactions on social networks. We look for methods to save journalism as rare and valuable craft" — Andrew Betts says.

2015: The Japanese Nikkei redeems FT Group from Pearson

In July, 2015 the British Pearson PLC media group announced sale of FT Group company to the Japanese corporation Nikkei. The cost of the transaction is £844 million ($1.32 billion), reported in Pearson. The agreement extends to the paper newspaper, the website Financial Times and The Banker and Investors Chronicle editions, but does not include the London real estate belonging to FT Group, and a 50 percent share block in[2].

The transaction will concern also Financial Times share in the Russian business newspaper Vedomosti. At this time FT is a cofounder of Vedomosti and owns 33.3% of stocks of the edition. As expected, closing of the transaction will happen in the fourth quarter 2015.

Rumors about possible sale of Financial Times went in the media market many years. Possible buyers were called in due time both American Bloomberg, and Thomson Reuters. Departure of the former chief executive of Pearson Marjorie Skardino who headed holding within more than 16 years became the starting moment for search of the new owner. She repeatedly said that she considers it necessary to save Financial Times as a part of holding. But after Skardino's leaving John Fallon who headed the division which is responsible for release of educational literature earlier came to her place.

Wanted purchase one of the leading business publications in the world also the German holding Axel Springer. That with it negotiations are conducted, the edition Financial Times reported at the end of July, 2015, at the same time it was noted that the German holding progressed in negotiations much further the Japanese competitors. Several hours later after this news official information that Japanese Nikkei will become the following owner of Financial Times appeared.

Notes