Hearst Strikes Deal with Apple But The Daily is Not So Lucky

May 6, 2011 • Editorial, Industry, Sign of the Times

Though Apple just struck a deal with Hearst, it might not be faring the same good fortune with The Daily.

Hearst has struck a deal with Apple that will make it the first big magazine publisher to sell subscriptions for its digital editions on the iPad. A Hearst spokeswoman confirmed on Wednesday that the publisher will sell iPad subscriptions for Esquire, Popular Mechanics and O, The Oprah Magazine through the iTunes store starting next month with the title’s July issues. The subscriptions will cost $19.99 a year, or $1.99 a month.

But Rupert Murdoch’s iPad-specific newspaper, The Daily, lost $10 million in the first quarter, said News Corp. chief operating officer Chase Carey on Thursday on a first-quarter earnings conference call. This is after a $30 million dollar investment. The Daily launched Feb. 2 and has been charging users 99 cents a week since the end of March.

Will this hold a precedent in future Apple media deals? Doesn't seem to matter right with this current deal now but could make huge changes in the long run. Stay tuned…

– Taneisha Jordan

Source: WWD
Photo: ipad.net

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