It looks like that’s for their “premium” package. Their standard one is $39/mo.

It looks like that’s on the high side, but not radically so compared to typical American newspapers.

https://www.thepricer.org/newspaper-subscriptions-cost/

Digital Pass Subscriptions

• Local/regional papers – $10 to $30 per month

• Example: Seattle Times Digital – $7.99 per month

• National publications – $15 to $50 per month

Example: The Washington Post Digital – $39.99 per month

Also, note that FT is British, not American.

https://en.wikipedia.org/wiki/Financial_Times