City free claims 80 per cent of its readers don't take FT

London’s free financial daily, City AM, has celebrated its 100th issue by claiming it has tapped into a business readership who don’t take the FT.

The paper, launched on 5 September last year, has an ABC distribution of 69,000 copies. It is handed out at train and tube stations in London.

After surveying 1,038 readers via an online panel, City AM claims that 80 per cent of them never read the FT. The survey found that 52 per cent of respondents never read The Guardian, The Independent, The Times, The Daily Telegraph or the Evening Standard.

City AM’s business model, which sees copies handed out at the end of people’s journeys, when they arrive in the City, has been criticised. However, the paper claims its survey found that 68 per cent of respondents read the paper before they arrived at work.

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