Maybe the iPad is going to save the media business after all.
According to a new report from analytics company Distimo, iPad users are spending $70,000 a day in the newsstand, which is where Apple keeps newspapers and magazines.
The most popular news applications come from the New York Times, The Daily, and the New Yorker, says Distimo.
News apps account for 7% of the top 200 grossing apps, and almost all of the revenue comes from in-app purchasing. That means the app is free, and then you pay for an upgrade.
The newsstand has only been a part of Apple’s mobile software for 6 months. Its early success is a good sign for publishers.
(That’s the positive take. If you want the negative spin, Apple has sold ~65 million iPads at this point. That means the average iPad user is spending $0.001 on newspapers or magazines.)
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