AppleInsider reports today on some staggering news from Newsweek, which has announced that it is to close its print edition in 2013, and go digital-only. The news was broken by editor-in-chief Tina Brown and CEO Baba Shetty today, via a post on The Daily Beast. In the announcement, Brown and Shetty say that the closure of the print edition is as a result of the â€œchallenging economics of print publishing and distribution.â€ AppleInsider notes that Newsweekâ€™s iPad app is the 45th (at time of writing) most popular free app on the iPad App Store, and 37th Top Grossing. However, it hasnâ€™t had very good reviews, with many users saying that it crashes a lot. Obviously the Newsweek team will be putting even more of their efforts into making the app a success once the print version closes. AppleInsider writes that a recent survey estimated that iPad users spend $70,000 per day on average on Newsstand content.
Source: Newsweek to cease print edition, go digital-only with iPad & other platforms