Today marks a milestone day for publishing. Newscorp’s The Daily is winding down operations.
Nate Hoffelder from The Digital Reader:
The Daily launched in early 2011 amidst a lot of fanfare, hype, and a massive advertising campaign. It expanded beyond the iPad in early 2012 with new Android apps, but clearly it was not growing fast enough nor was it currently covering its costs. It was reportedly losing 30 million dollars a year.
We see it as an over budgeted try. When you set up a 30m+ yearly budget, no store really is going to help you. Nate’s point about closing only to one channel is very valid today. Only now „multi channels” means also print, but in 2013-14 will not. Multi channel in comming years will mean Apps and Online.
When you compare this news to last month info about Newssweek, it become clear that 2009 wasn’t very good for iPad only magazine. Now, few years later, we finally arrive at the right point and Newsweek will try to prove it.