News Corp. Finally Realizes Locked Up, iPad-Only News Publication Was A Dud, Shuts It Down
from the about-time dept
To be honest, given all the bad press about how few people were reading it, combined with stories of staffers jumping ship soon after it was launched, I had kind of figured that The Daily had already been shut down. However, the latest news is that News Corp. is finally putting it out of its misery and shutting it down, giving most staffers 3 months severance. A few staffers are being folded into the NY Post:
News Corporation also announced that effective immediately, Jesse Angelo, the founding Editor-in-Chief of The Daily and long-time Executive Editor of The New York Post, will assume the role of Publisher of The New York Post. As part of a digital restructuring initiative, the company will cease standalone publication of The Daily iPad app on December 15, 2012, though the brand will live on in other channels. Technology and other assets from The Daily, including some staff, will be folded into The Post.Apparently the site was losing $30 million a year.
Mr. Murdoch said: “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..."
Perhaps this should stand as a response to the people who insist that giving away newspaper content free online was "the original sin" of the industry and they should have focused on paywalls. Paywalls don't help you build up "a large enough audience." The link above quotes a reporter there saying: "It was a really cool, hip product. I think this is nothing more than bad timing." I'd say it was much more of a bad model -- both business model and delivery model -- than "bad timing."