If the rumors turn out to be true, News Corp. could be getting ready to shutter The Daily, it's iPad and iPhone-only magazine because of 'disappointing' sales. Rumors that are circulating inside the company say that The Daily has been put 'on watch,' and that News Corp. will reassess it after the US election on November 6th.
Despite consistently being one of the highest grossing apps on the App Store, The Daily, which functions more like a real newspaper than an app, is still costing News Corp. around $30 million a year.
Another thing that's been pretty consistent is The Daily's subscription rate – it's been stuck at around 120,000 readers since last September, and it's stayed there, even after the launch of an iPhone client that costs half as much as its full sized brother.
If The Daily does go under, it could be a sign that publisher's experimentation with digital magazines could be coming to a close, and that consumers prefer way cheaper (i.e. free) web services that are always up to date over a flashy magazine app. At $40 a year, The Daily is a pretty tough sale, especially considering that it's not a particularly meaty periodical.