The Daily generated 800,000 downloads, $10 million loss in first quarter of operation
byVlad Savov||May 5th 2011 at 4:52amMay 5th 2011 4:52 am
It's still too early to pass judgment on News Corp's daring venture into tablet-only newspapers, The Daily, but at least we now have an idea of how much it costs to get a project like this off the ground. Having spent $30 million developing the concept before launch, the company's latest quarterly reports indicate another $10 million loss was incurred on the early operations of The Daily. That's resulted in 800,000 total downloads of the iPad-only app, though a breakdown of how many of those were just trying out the free trial and how many have stuck around for the paid version hasn't been forthcoming. News Corp stresses that The Daily is still a work in progress, one that we've heard may also be making its way onto Android tablets, and looks very much committed to seeing its plan through to the end. So if this digital-only, subscription-paid news idea fails, it won't be for lack of trying.