Rob Grimshaw, managing director for FT.com, writes on Wired.com about how the business newspaper decided to begin charging for its content online.

Grimshaw writes, “The lesson from the FT’s experience is that the market is more flexible than it looks. As a niche publisher, the FT decided early that we couldn’t compete on scale. The response was to challenge the terms of the game, first by implementing a high yield “quality not quantity” ad sales model and second, by taking on the widely held assumption that readers would never pay for content online.

“When the FT launched a metered access model for digital subscriptions in 2007, many were headed in the opposite direction and critics called our determination to swim against the tide and focus on content revenues shortsighted.

“The decision was driven in part by necessity and in part by a belief that popular opinion must have got it wrong. For senior execs, it seemed unlikely that readers no longer valued the FT’s journalism simply because it had moved online. The content produced by a renowned editorial team simply had to be worth something to the right audience.”

Read more here.

Joe Pompeo of Capital New York writes about The Financial Times‘ new advertising campaign and the business newspaper’s attempts to gain more U.S. readers.

Pompeo writes, “But really what this is about is adding more readers to the FT‘s audience in the U.S., where it now has more digital subscribers than in any other market — a little less than a third (692,655, to be precise) of its total average daily readership of roughly 2.2 million, according to a spokesperson. Its digital subscription base in the U.S. grew 30 percent last year, and Grimshaw is hoping to see that number tick upward.

“The Grand Central campaign, which dovetails with ads in Times Square and on taxi screens throughout the city, is the beginning of a larger marketing push that may eventually spread to other U.S. cities with potential subscribers to the salmon-colored U.K.-based paper and its affiliated digital products, which cost between $27 and $37 a month. (A yearly print subscription is $348.)

“‘We’re focused on making this campaign successful, making sure we make a real splash in New York, and then thinking about where we’ll take it,’ said Grimshaw.

“‘We already have a fantastic audience here in the states, but the potential opportunity for us here is much bigger than that,’ he said. ‘The world economy is becoming more and more connected, and U.S. businesses, whether in New York or across the rest of the states, are becoming more and more focused on what’s happening in the rest of the world.’”

Read more here.

The Financial Times launched Tuesday an interactive marketing campaign focused on new ways to engage its U.S. and global audiences.

Housed at Grand Central Terminal, FT Graphic World features a series of 3-D interactive film projections created in collaboration with award-winning writer and designer David McCandless. Projected onto a wall, the infographics will tell stories of three topics — the U.S. and global economy, the mobile technology revolution and the global recovery — being covered by the FT news staff.

The campaign launches on the back of strong digital growth for the FT in 2011, with a 26 percent year on year increase in online readership and 68 percent rise in mobile users. The infographics, along with all other campaign materials and a complementary weeklong FT.com subscription offer, will also be accessible online at http://www.ftgraphicworld.com.

“In an age of big data and complex financial systems, both effective storytelling and a global view are key to understanding what’s happening and what will happen next in international trends and the economy,” said David McCandless in a statement. “With an unrivaled journalistic pedigree and a strong global perspective, the FT is a great partner for this endeavor, which marks the new direction for the data visualization field.”

Rob Grimshaw, managing director of FT.com, commented: “FT Graphic World’s installation at Grand Central embodies how the FT, as a pre-eminent source of business news and analysis, supplies its readers with a snapshot of actionable information from around the globe each day. The infographics bring this data to life in the same way that our journalism is presented: with great clarity, across multiple platforms, and from a global perspective.  The campaign also represents a substantial investment in the US market, where our digital subscriptions grew by over 30 percent in 2011.”

The campaign, which was developed in partnership with DDB, will be supported by online banner advertisements, outdoor advertising in Times Square and on taxi screens throughout New York City.

Andrew Pugh of the Press Gazette in London reports that Financial Times journalists have canceled a scheduled walkout after receiving a better contract offer from management.

Pugh writes, “But last night the NUJ’s FT branch tweeted: ‘A large meeting of the FT chapel votes to accept an improved and more equitable pay offer and call off Thursday’s industrial action.’

“The minimum pay increase on offer was originally two per cent for all staff, with many getting 2.5 per cent, but the total editorial pay pot was 3.5 per cent – with management proposing to use the remainder to reward particular staff.

“Under the new offer, in July a further 0.5 per cent will be paid to all FT editorial staff from the balance of the overall 3.5 per cent payroll increase.

“In an email to staff yesterday the paper’s managing editor Lisa MacLeod said the 0.5 per cent would be consolidated into salaries from 1 July to year-end and is in addition to the award of between 2 and 2.5 per cent made to all FT editorial staff in January.”

Read more here.

Marietta Cauchi of Dow Jones Newswires writes that business journalists at the Financial Times have voted to stage another walkout next week in their pay dispute with management.

Cauchi writes, “At Tuesday’s meeting, the 250 FT journalists who are NUJ members voted to walk out again Thursday, March 22, for a three-hour mandatory meeting unless management would submit to binding arbitration by Advisory, Conciliation and Arbitration Service, or ACAS, a government body that aims to settle employment disputes.

“The NUJ said that it was particularly unfair when the FT’s figures were the best they had ever been.

“‘With FT’s latest figures showing a 27% profit increase at the group and the highest circulation in the paper’s history, there is no justification for this unfair pay award,’ said Barry Fitzpatrick, NUJ deputy general secretary.

The FT said the action was ‘unwarranted and unreasonable.’

“‘The proposed salary increase of 3.5% — with 2%-2.5% for all editorial staff and 1% for merit, plus a bonus, is a good offer that compares favorably with the rest of the industry,’ it said in an emailed statement.”

Read more here.

Financial Times journalists held a work stoppage on Tuesday to protest a lack of advancement in talks with management about a new contract, reports Andrew Pugh of the Press Gazette in London.

Pugh writes, “Around 250 journalists at the Financial Times will stop work for two hours this afternoon after talks over ongoing pay dispute failed to result in a deal.

“NUJ members at the FT held talks with senior management at the Advisory, Conciliation and Arbitration Service (ACAS) yesterday but they failed to resolve the dispute.

“A strike ballot was held last month in protest at a pay deal which the union attacked as ‘deeply divisive and an attack on union collective bargaining’.

“The minimum increase is two per cent for all staff, with many getting 2.5 per cent.

“The total editorial pay pot is understood to be rising b 3.5 per cent but management at the company propose using much of this to reward particular staff. This move seen by the union as an attack on the collective bargaining arrangement contained within the FT house agreement.

“Today journalists will stop work for two hours for a mandatory chapel meeting at 3pm which is expected to involve around 250 journalists.”

Read more here.

Sarah Marshall of Journalism.co.uk reports that the Financial Times CEO John Riding believes that the newspaper’s revenue from content could pass its revenue from advertising in 2012.

Marshall writes, “The latest figures show content revenues for the FT accounted for 41 per cent in 2011, while advertising revenues accounted for the majority.

“Speaking on a panel debating ‘the future of digital journalism and news,’ Ridding said the FT’s relationship with its readers has helped to ‘sustain’ quality journalism.

Having that understanding about what readers want is very helpful in continuing to improve the quality of journalism we provide.

We are confident in the business model and confident it will not just sustain quality journalism but enable us to further build quality journalism.

“The site currently offers free registration which gives users access to eight articles a month, after which they would need to pay a subscription to access further content.

“During the panel Ridding also spoke about mobile, which he said has been ‘a complete game-changer’ for the FT.”

Read more here.

Roy Greenslade of The Guardian in London reports that journalists at the Financial Times have voted to strike.

Greenslade writes, “The management had offered a rise of 2%, while retaining a third of the money set aside for this year’s increase, to use as merit pay or for staff retention at the managing editor’s discretion.

“The strike call by members of the National Union of Journalists came as the FT announced a 27% profit increase at the group.

“It also followed the revelation that the group’s chief executive, John Ridding, was paid £928,000 in 2010.

“According to the NUJ, figures obtained from Companies House showed that his remuneration increased by 95% in the four years to 2010.

“During the same period, staff were asked to accept redundancies and a one-year pay freeze.”

Read more here.

UPDATE: The Greenslade story has been updated to note that the FT has offered a 3.5 percent pay raise.