While Apple’s Newsstand for iOS has been around for less than six months (launched alongside iOS 5), new research from Distimo reveals that the magazine, newspaper, and subscription content platform is already generating a whopping $70,000 per day for Apple.
Mac Observer reports:
According to Distimo, the top 100 magazines, newspapers, and other publications offered on Newsstand are now generating $70,000 per day in the U.S. alone. That’s only $25.6 million per year (at that rate), but it could add to the iPad’s momentum as a delivery vehicle for magazines.
The report also lists the top 5 Newsstand publications that users are subscribing to, which are (in order from most to least popular): The Daily, The New York Times for iPad, The New Yorker magazine, National Geographic magazine, and Cosmopolitan magazine.
According to the report, news and magazine apps account for around 7% of all iPad app purchases, and the vast majority of revenue comes from in-app purchases (subscriptions), which is hardly surprising considering the nature of these apps.