Financial Times iPad app brings in £1m

The Financial Times is celebrating after revealing that its Apple iPad app has generated £1m in advertising revenue since it was launched in May.

Brand Republic reported in June how the FT iPad app had registered three times more downloads in its first two weeks since launch, than its iPhone app managed.

The Financial Times recorded 130,000 downloads of its iPad in the first few weeks. It has gone on to rack up 400,000 downloads, according to the FT’s deputy chief executive Ben Hughes.

Hughes told the Guardian that the paper’s iPad app now accounts for 10% of the paper’s new digital subscriptions.

“My job is to make the FT brand sweat,” he told the MediaGuardian. “Print [advertising] isn’t dead but media owners are just having to find new ways to put [different models] together.”