News Corp. shuts down The Daily

News Corp. said on Monday that it is shutting down The Daily, its ambitious but expensive attempt to create an iPad newspaper, on Dec. 15. The decision follows a 22-month effort that delivered both some significant achievements—developing the iPad as a publishing platform, for example, and accumulating 100,000 paying subscribers for a brand-new product—but seemed to stall out at a time when its parent company was becoming less able to indulge a length investment period. Whether the ultimate problem was the editorial execution, which may have proved a bit generic for a product that consumers had to pay for, or the relative lack of tablet penetration will be debated. Both factors contributed to the iPad's difficulty reaching cruising altitude fast enough for News Corp. More than 54 million people in the U.S. use an iPad at least once a month, but they remain just 16.8% of the population and 22.2% of people on the internet, according to eMarketer. That put a hard cap on the number of subscribers The Daily could acquire no matter how solid its product. But The Daily may also have become collateral damage from the hacking scandal at News Corp.'s U.K. newspaper unit, which encouraged Chairman-CEO Rupert Murdoch to split the company into an entertainment operation and a publishing concern. Without the cover of entertainment profits, the newspapers spin-off is going to have a harder time sustaining money-losing properties. Word of the shutdown for The Daily came as News Corp.... Continue reading at 'Crains New York'

[ Crains New York | 2012-12-03 00:00:00 UTC ]

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Engadget Podcast: Reviewing the PS5 Pro and Apple’s M4 Macs

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'Wall Street Journal' and its owners hit by cyberattack linked to China

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