UK: Pearson profits rise, FT paywall to stay
Posted by Jean Yves Chainon on February 27, 2007 at 1:05 PM
Publishing group Pearson, owner of the Financial Times (FT), registered a strong 19% growth in annual profits, up to £502 million, for 2006. Pearson chief executive Marjorie Scardino also seemed to indicate that FT.com would keep its paywall, after discussions over its possible removal.
Last July, Scardino had expressed the opinion that subscription fees might be a barrier to growing the online debate. She seems to have changed her mind.
"As debate online has become more diffuse - hundreds of thousands or millions of voices on each topic - it has become less helpful in a way," she said recently. "The trend now online seems to be some sort of mediation and we think we might have a role there."
Scardino also insisted on the importance of the FT’s international editions – Europe, Asia and US – although observers claim they are all unprofitable.
Pearson’s higher education department was the engine of its growth, with a profit margin of 14% (8.7% for press and 7.8% for Penguin publishing).
Source: The Guardian – Le Figaro (link in French)
"As debate online has become more diffuse - hundreds of thousands or millions of voices on each topic - it has become less helpful in a way," she said recently. "The trend now online seems to be some sort of mediation and we think we might have a role there."
Scardino also insisted on the importance of the FT’s international editions – Europe, Asia and US – although observers claim they are all unprofitable.
Pearson’s higher education department was the engine of its growth, with a profit margin of 14% (8.7% for press and 7.8% for Penguin publishing).
Source: The Guardian – Le Figaro (link in French)
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FYI - You can get free online access to FT.com, Wall Street Journal, Morningstar, ZAcks and those other subscription sites with a free netpass from: http://news.congoo.com
This was in several blogs last week....free tip!