Perhaps Facebook, MySpace and Twitter are just too public for the discerning media executive - because the Financial Times is entering social networking with an exclusive, membership-only alternative costing up to £2,000 a year.

While the FT media and technology executive membership forum aims to enable senior executives to "maintain contact with peers and luminaries operating within the digital, new media, mobile and telecoms sectors", it is also a marketing tool for the paper's events and conferences. Membership includes free attendance at any one FT Global conference plus 20% off subsequent events, face-to-face members' networking events and a 12-month premium subscription to FT.com.

Networking that is described as "user-friendly, simple, efficient and secure" enables members to "search for and make unlimited private contact with fellow members - including leading industry figures such as conference speakers and editorial figures from the FT". Similar offerings are planned for the luxury goods and property sectors later this year.

"Busy executives in the media and technology industries are increasingly networking, communicating and connecting online and the launch ... provides a highly targeted network where executives from these fast-moving industries can connect and share their knowledge," said Jayne van Hoen, FT conference director.