Financial Times Won’t Pay The 30% Cut To Apple

The Financial Times is a newspaper, a major business newspaper in fact, and they have decided to pull the plug on their iOS app because they did not want to pay the 30% cut that Apple was demanding from subscriptions. I guess it just did not make good business sense to them. Instead the Financial Times will continue to provide their newspaper in the specially designed HTML5 based web app that is targeted at iPhones and iPads.

The Financial Times sent an email out to their current subscribers saying:

“Although the old app may still be available for an interim period, we encourage you to switch to the new app as soon as possible. The new app is now the focus of our development efforts and we’ll be adding a series of new features, including special reports, over the coming months.”

Apparently deadline for subscription apps to roll out their offerings is until the 30th of June, which is probably what the phrase “available for interim period” was referring to. Either way it looks like Financial Times will be trying to beef up their web based app in order to entice customers over.