The Independent is to become the first national newspaper title to move to a digital-only future, owners ESI Media have announced.

The move will capitalise on The Independent’s position as the fastest growing UK quality newspaper website, and will ensure a sustainable and profitable future.

Rapid digital growth in the past three years has made independent.co.uk the UK’s fastest-growing quality newspaper site. Its monthly audience has grown 33.3% in the last 12 months to nearly 70 million global unique users. The site is profitable and is expected to see revenue growth of 50% this year.

Evgeny Lebedev, owner of The Independent, said: “The newspaper industry is changing, and that change is being driven by readers. They’re showing us that the future is digital. This decision preserves the Independent brand and allows us to continue to invest in the high-quality editorial content that is attracting more and more readers to our online platforms.

“My family bought and invested heavily in The Independent because we believe in world-class quality journalism, and this move secures the future of these vitally important editorial values.”

Steve Auckland, Group CEO, ESI Media, said: “The unique editorial proposition of The Independent is perfectly suited to the global digital landscape. Following this decisive move to digital, we will be as focused and uncompromised as any start-up, but with all the authority and trust of an established newsbrand – a truly unique proposition. We now have a clear and secure future path for our businesses. It’s also a further opportunity for our advertisers to capitalise on our growing, smart, affluent and digitally savvy audience.”

The i100.co.uk site, the hugely successful quality news source for millennials, will become indy100.com as part of ESI Media’s drive to champion truly independent and innovative journalism worldwide.

The Independent’s last paper edition is expected to be published in March.

ESI Media has also confirmed that it will sell i newspaper to Johnston Press, subject to Johnston Press shareholder approval.