The digital magazine subscription world of the iPad continues to be problematic for some companies — but others are still diving in.
“In the quarter, we have lost about $10 million on The Daily,” News Corp President Chase Carey told analysts on the group’s Q3 earnings call, as reported by “paidContent.org” (http://macte.ch/3sTH5). A colleague said the iPad only publication has seen 800,000 downloads since launch.
A News Corp. spokesperson told “paidContent.org” that the download count is now higher than 800,000. The “loss” is mostly due to investment costs because the app has only just gone paid, the article adds.
News Corp has previously said investment in the tablet-only news title will run to $30 million by the time fiscal 2011 ends in June. That includes $7 million in Q2 and an early run rate of nearly a half-million dollars a week.
Meanwhile, the UK-based Telegraph has rolled out version 2 of its iPad app. The app is free; with it you can buy digital edition of The Telegraph for £1.19 each or £9.99 per month — paid and auto-renewed via Apple’s in-app payments.
