FT.com chiefs have rejected claims they are about to levy charges
on its 1.7 million monthly website visitors.
The rebuttal follows recent press reports claiming The Financial Times
newspaper group - owned by Pearson Publishing - was planning to erase
its 'free' status.
'The claims are untrue and misleading,' said FT.com head of
communications Paul Nero. 'Although we are planning to introduce premier
paid-for services, the core content will always remain free.
'The press reports have misrepresented our plans for the site,' he
Most of the site's revenue comes from internet advertising, but analysts
claim this is no longer a viable source of income.
However, Pearson has brought forward the site's break-even date by a
'We now expect to become profitable by 2002, and any changes will only
be to improve the choice for readers,' added Nero who denied there would
be 'asset stripping' of the core web content to be turned into the
planned paid-for services.
FT.com rival WSJ.com is a subscription-based website. But although
readership has risen by 52 per cent to 500,000 during the past 12
months, the website is not profitable.This is blamed on the amount of
free information available on the web.
'We are pleased our competitors are beginning to recognise that WSJ has
pioneered the most successful business model for publishing valuable
content on the web,' said WSJ.com PR manager Melanie Spencer.