Murdoch’s iPad Daily misses target
News International’s iPad only title, The Daily, is averaging just a quarter of the weekly readers it needs to turn a profit according to a media buyer for the title.
Personally launched by Rupert Murdoch last February amidst much hype and fanfare the digital publication had been given a target of 500,000 readers a week to break even, but is in fact averaging only around 120,000.
John Nitti of the Publicis Group’s media-buying division. who has access to internal viewing figures for the title (but not its subscriber total), added that the true figure could be even less since his figure includes people who are participating in a two week free trial.
The figures aren’t being seen as terminal for the title however with analysts cautioning that the digital market is notoriously difficult and that Murdoch has built something from nothing.
News Corp itself insists that the title remains very much a “work in progress” and that it is still “early days” in the life of the venture.
Following a two week free trial subscribers pay 99cents a week or $39.99 a year for access.