Foursquare partners with -- Conversations Welcome on This Topic

See article: here is the link as well…

Damon Kiesow of Poynter Online recently revealed that a deal has been struck between the Financial Times and the geo-based social networking site Foursquare. The website recently received attention after establishing partnerships with several major newspapers and media outlets.
For those unfamiliar with the social networking site, Foursquare allows users to update their status geographically. Users can let their friends and followers know where they are at all times. The site has become an important tool for news and media outlets that to reach users with geo-targeted information about their area.

The new deal with the Financial Times will allow Foursquare users free access to anytime they update their position in an area or venue near a major financial center or business school, such as Harvard or the London School of Economics.

As noted, partnerships with Foursquare are not anything new. However, the Financial Times agreement is somewhat of a surprise, as it is one of the only publications to successfully make a profit from both its print and digital editions. This has been achieved through the implementation and strict control of a pay wall. Readers are willing to pay the steep fees for access to because it provides important financial information not available elsewhere. As the FT partners with more and more social media outlets, this could lead to massive changes in the way their users interact globally.

Some believe that offering Foursquare members free access to puts the publications' functioning business model in jeopardy. Users might become accustomed to having free access to the site, which is the same problem online news outlets are struggling to solve. On the other hand, the agreement might be a marketing scheme to introduce the Financial Times to the future leaders of the business and financial world.

Source: Poynter Online

Comments (5)

Oct 13, 2010 - 10:03am
BeatStreet, what's your opinion? Comment below:

I actually just joined 4square and it's pretty neat. Too bad you can't check into websites!

Oct 16, 2010 - 4:42am
DoubleTrouble, what's your opinion? Comment below:

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