News Corp’s The Daily Makes Loss of $10 Million in Q2

Discussion in 'Apple iPad News' started by Maura, May 4, 2011.

By Maura on May 4, 2011 at 6:58 PM
  1. Maura

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    iPadForums News Team

    Jun 7, 2010
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    [ame=]YouTube - Introducing The Daily[/ame]​

    MacStories reports today that The Daily, the iPad-only magazine/news app launched by Apple and News Corp back in February, generated a $10 million loss in Q2 according to News Corp.’s March quarter earnings call. During the call, News Corp. executives referred to The Daily as “a work in progress.†According to MediaMemo, The Daily has had approximately 800, 000 downloads since launch. News Corp. says that this estimate is a little on the low side, but still fairly accurate. As MacStories notes, downloads of under a million are really pretty underwhelming, especially considering the fact that both Apple and News Corp. promoted The Daily heavily, with News Corp. even forking out for a Super Bowl commercial. News Corp. has said previously that it has plans to expand The Daily to other devices such as Android tablets, but has yet to make any such moves away from its Apple exclusivity.

    Source: The Daily: 800k Downloads Since February, $10 Million Loss, News Corp. Revenue, Earnings Miss; MySpace Still Burning Money | Peter Kafka | MediaMemo | AllThingsD


Discussion in 'Apple iPad News' started by Maura, May 4, 2011.

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