A new report is suggesting that News Corp, the company behind The Daily, are considering whether or not The Daily has a long term future. According to The New York Observer (via TUAW), The Daily has been put ‘on watch’ due major financial losses of up to $30 million a year. The publication will be reassessed in November to see whether it will continue.
The rumor is unsurprising, essentially because The Daily is not the highest quality of publication on the iPad. Strangely enough, they seemed to be doing everything right prior to the launch. Apple was on board, as evidenced by the presence of Apple SVP for Internet Software & Services, the publication obviously had the full backing of News Corp. and a lot of investment was put into it. In addition, the pricing structure of $0.99 per week or $39.99 per year was an excellent rate for a daily newspaper and the app itself was designed specifically for the media rich content of the iPad.
Sadly, upon launch, it became apparent that The Daily was more like a mix between a daily newspaper and a gossip magazine, with a few novel media features thrown in. While many people do like it, I’ve never managed to get on board with it, occasionally dipping in and out of it during the first year and then finally cutting the cord.
Certainly, if a similar app were to launch with better content, it could equally do much better than The Daily has, but it remains to be seen how long the publication will last.