Murdoch taps iPad crowd with The Daily
Australian media mogul Rupert Murdoch today personally launched The Daily, a new digital newspaper exclusively available on Apple's iPad.
The move comes as Murdoch's News Corporation, along with other established media empires, battle with competition from free internet content.
As consumers have shifted to websites and mobile phones to get their news fix, traditionally powerful newspaper and magazine titles have seen their readerships and advertising revenues shrink.
The Daily is Mr Murdoch's latest attempt to turn the tide, following his decision to throw up pay walls around content on the sites of his prestige titles like the Wall Street Journal in the US and The Times in the UK.
iPad readers will be able to subscribe to The Daily for less than $1 per week. The hope is that lower production costs and an element of first mover advantage will help the digital publication to quickly build up a readership.
The Daily promises to showcase the iPad's various features, with rich media content and functionality that borrows from Apple's iTunes store.
Speaking at the launch today, Mr Murdoch was typically bullish about its likely success. He predicted that The Daily's relatively low cost base and the advertising appeal of the iPad would secure a healthy revenue stream.
It remains to be seen whether publications of this nature can really be game changing for publishing giants like News Corporation.
While print publications have surely had their heyday, attractive and versatile platforms like the iPad and other tablets could help big brands reinvent themselves for the digital age.
By publishing in an environment where users are becoming increasingly comfortable paying for content, thanks to iTunes and the app store, Murdoch and co have an opportunity to ditch the high-cost print business and tap a growing market of tech-savvy readers with the kind of spending power that gets advertisers excited.