The latest quarterly results from News Corporation say The Daily, the much-publicized iPad newspaper, has lost US$10 million. Much of the loss is associated start-up costs. News Corp. reports The Daily costs about $500,000 a week to produce, and revenues depend on advertising and subscriptions. The company has not revealed how many of the people who downloaded the free introductory subscriptions have converted to the pay model.
via tuaw.com
Not that this should be a surprise. The app came out and was very very buggy. I had the free trial, and the app required a complete erase and download every time an update was needed. The share to FB didn't work right. The game center integration did not work. While I can appreciate that they are making strides, as they say, you never get a second chance to make a first impression. Flipbook and Pulse are far better news readers in my opinion.
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