Conventional wisdom has it that newspapers are in their death convulsions, but John Ridding, CEO of the Financial Times Group, said his company may never have been stronger.
"We have 629,000 people paying to read the FT across (all) channels. And that's the highest it's ever been in our 125-year history. More than half of that is digital, but print is still pretty important," Ridding told CNBC on Thursday.
To be sure, the statistics for the print industry are grim. According to a Gallup poll in July, 55 percent of Americans get their news from television, 21 percent from the internet and 6 percent from radio. Print accounts for just 9 percent.
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But Ridding remains confident.
"People are looking at different formats for different usages at different times of the day. Quite often in the morning they use the newspaper for bigger analytical pieces and for shorter, sharper takes, readers are going online," he said. "The real phenomenon is mobile. We're seeing tremendous growth in our mobile usage. The multi-channel strategy we've developed is really giving us a lot of momentum."
The secret to the FT's success might be swimming against the tide telling publications they need to be free online.
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