Some of our readers will remember The Daily, an iPad-only news app that was launched by Rupert Murdoch’s News Corp. Well, News Corp has decided to shut down The Daily, and the subscription-based application will close on the 15th of December.
We heard in May 2011 that The Daily lost $10 million in its first quarter, and it looks like things have not improved for The Daily, as it will now be shut down later this month.
The Rise and Fall of The Daily
The Daily was launched with much fanfare in February 2011, touted as the first major publication designed exclusively for the iPad. It was a bold experiment in digital publishing, aiming to merge the traditional values of journalism with the innovative possibilities of digital media. The app featured a mix of news, entertainment, sports, and opinion pieces, all designed to take full advantage of the iPad’s multimedia capabilities.
Despite its innovative approach, The Daily struggled to attract a large enough audience. The initial excitement quickly waned, and the app faced numerous challenges, including technical issues, a saturated market, and the difficulty of convincing users to pay for digital news content. The $10 million loss in its first quarter was a significant blow, and despite efforts to turn things around, the app never managed to become profitable.
Lessons Learned and Future Implications
The closure of The Daily offers several important lessons for the digital publishing industry. Firstly, it highlights the challenges of launching a new media product in a rapidly evolving digital landscape. While the idea of an iPad-exclusive news app was innovative, it may have been ahead of its time. The market for digital news was still developing, and many users were not yet ready to pay for content they could find elsewhere for free.
Secondly, The Daily’s experience underscores the importance of a sustainable business model. Despite significant investment and high-quality content, the app could not generate enough revenue to cover its costs. This serves as a cautionary tale for other digital publishers: innovation and quality are crucial, but they must be paired with a viable financial strategy.
“From its launch, The Daily was a bold experiment in digital publishing and an amazing vehicle for innovation. 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. Therefore we will take the very best of what we have learned at The Daily and apply it to all our properties. Under the editorial leadership of Editor-in-Chief Col Allan and the business and digital leadership of Jesse, I know The New York Post will continue to grow and become stronger on the web, on mobile, and not least, the paper itself. I want to thank all of the journalists, digital and business professionals for the hard work they put into The Daily.”
The statement from News Corp reflects a commitment to leveraging the lessons learned from The Daily to enhance their other properties. The New York Post, in particular, stands to benefit from the insights gained during this experiment. By integrating successful elements from The Daily, such as multimedia content and interactive features, News Corp aims to strengthen its digital presence and adapt to the changing media landscape.
In conclusion, while The Daily’s closure marks the end of a bold experiment, it also provides valuable insights for the future of digital publishing. The challenges faced by The Daily highlight the importance of timing, audience engagement, and a sustainable business model. As News Corp moves forward, the lessons learned from this venture will undoubtedly inform their approach to digital media, ensuring that they remain competitive in an increasingly digital world.
Source All Things D
Latest Geeky Gadgets Deals
Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
