And the value you get from your subscription list largely doesn’t lie in selling that data directly to third parties. […] The more you know about your readers, the more valuable your ads. The problem with the Apple model, which the FT is correct in highlighting, is that it effectively breaks the relationship you have with subscribers, which lets you increase the cost of your ads.
More relevant ads are better for everyone. It’s not clear to me why Apple doesn’t want generic demographic data used, either for third-party publishers or for its own iAds.