iPad Owners Are Spending $70,000 Per Day In Newsstand [Report]

iPad Owners Are Spending $70,000 Per Day In Newsstand [Report]

Apple’s Newsstand is only about 6 months old, but it’s already raking in a decent amount of cash for media publishers. According to a new report, iPad owners are spending $70,000 per day for content in the iOS 5 Newsstand.

Consumers are buying subcription-based content from publications like The New York TimesThe New Yorker, and The Daily. Unsurprisingly, the majority of revenue is coming from in-app purchases.

According to Distimo, news apps account for 7% of the top 200 grossing apps for the iPad. While the revenue is nice for publishers, $70,000 per day isn’t exactly saving the publishing industry. For a more dismal take, consider that Apple has sold over 65 million iPads, so that means the average iPad owner spends less than $0.01 per day in Newsstand. Ouch.

About the author

Alex HeathAlex Heath is a staff writer at Cult of Mac and co-host of the CultCast. He has been quoted by the likes of the BBC, KRON 4 News, and books like "ICONIC: A Photographic Tribute to Apple Innovation." If you want to pitch a story, share a tip, or just get in touch, additional contact information is available on his personal site. Twitter always works too.

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