The Financial Times is launching a new consulting service Titled FT Strategies. The Chief Data Officer, Tom Betts, indicated that the new venture will be a consulting business, which uses consumer data. Betts also indicated that the consulting services could be ideal for any industry facing disruption, or industries involved in direct-to-consumer products.
The Financial Times tested its consulting business and has already built up several clients, including Bonnier, The Business of Fashion and more.
The launch of FT Strategies indicates that the Financial Times is diversifying its business. Previously, the organization would rely on subscriptions, and it recently reached 1 million readers. However, the new consulting branch will allow the company to have more revenue streams, which can help protect the organization from a potential decline in subscriptions.
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