Financial Times says no to 30% Apple cut, to go it alone with subscriptions

The Financial Times says it will not agree to Apple holding onto its subscriber data, saying it will push on with selling subscriptions for its digital news directly to readers.

FT’s Rob Grimshaw has told Reuters the publisher’s “direct relationship” with subscribers is key to its business model, and it will not allow Apple to regain control of new customers that sign up via Apple’s iPad.

Apple takes a 30% cut of all subscribers who sign up for subscriptions for content-based apps through its App Store.

Mashable.com says about 210,000 subscribers have paid £250 a pop for annual access to FT’s website and apps, with digital revenues accounting for 40% of the group’s sales last year.