Taking some time to look at the studio set and video shots. Needs a little upgrading so I will be moving things around. Don’t forget we’re only 4 weeks away from the CES action! Head to TPN.TV for the live stream!
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-Geek Smack: Saying Goodbye to “The Daily”. What Happened?
“The Daily was a bold experiment in digital publishing,” said News Corp. Chief Executive Rupert Murdoch. “Unfortunately, our experience was that we could not find a large enough audience quickly enough to convince us the business model was sustainable in the long term.”
The Daily was a mobile news app. Launched in February, News Corp invested 80 million into the venture. But with the .99 cent / week subscription, the Daily didn’t see too many memberships. Even the 100 thousand members that was reported back in July couldn’t even begin to pay back the overly-infused company.
Was the Daily set up for failure? To pay back a 80 million dollar price tag in 5 years the publication would have needed around 333 thousand subscribers – or about 1% of the US population. The app only received 1/3 that and we don’t know if that number grew since July.
Does this mean a closed paywall app does not work? Not necessarily. When most companies put 80 million into an app and don’t see the returns, the first thing to do is re-organize. Not close the company.
Was it because theDaily was more of a Magazine than an app? I have only a couple publications on my iPad. Some of those online magazines take up too much space. Mad Magazine takes up to 300 MB in some issues while other publications can take up to 500 MB. When you have a 16 GB iPad you have to make some sacrifices.
If I was a subscriber I would be pissed at News Corp simply because I put my money toward something that didn’t even get a chance. I would be asking for a full refund of my subscription. After all, they don’t care about me…
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