The Financial Times Group has been facing weak trading conditions for advertising, said its parent company Pearson, with the latter announcing it will be restructuring its operations.
In its AGM statement, Pearson said that this was due to a number of large campaigns focusing on the second quarter this year compared to the first quarter in 2012, but maintained that there was a “resilient demand for our content and services.”
It said that the FT saw its digital subscriptions grow 4% in the first quarter to 328,000. (It has a global paid print and digital circulation of 602,000).
The Mergermarket Group has also grown steadily with good renewal rates from its core products and the launch of Debtwire Analytics, PaRR and XportReporter, added Pearson.
A spokesperson from FT told Marketing that the group continues to see a growth in mobile advertising with top advertising being drawn from sectors such as business education, luxury, financial advertising and travel, however.
The company is leveraging on its proprietary tools such as Deepview which monitors the performance of ad campaigns in real time and allows clients to reassess mid-campaign to attract advertisers in the market, she added.
As for parent company Pearson, it is ringing in a larger restructure moves. Pearson also owns publishing company Penguin Group.
Pearson said that due to a challenging environment, it would be spending approximately £150 million to restructure its business in two main areas: accelerating its transition from print to digital business models and from developed to developing economies; and to separate Penguin activities from Pearson central services and operations.