It seems that according to reports, iPad owners are spending $70,000 a day (collectively) for content in the iOS 5 Newsstand, purchasing subscription-based content from publications such as The New York Times, The New Yorker and The Daily. Adding on to that amount would be in-app subscriptions, and according to Distimo, news apps are apparently accounting for about 7% of the top 200 grossing apps for the iPad.
While $70,000 a day might not be as much as what publishers are hoping to reap (with 65 million iPads sold, $70,000 a day would basically amount to less than $0.01 spent a day by the average user), it certainly does appear to be a promising start. Just the other day, we reported that Condé Nast had updated several of its magazines to support Apple’s new iPad’s Retina display, a move which we’re sure is greatly appreciated by those who enjoy reading digital magazines and could attract new subscribers who wish to take full advantage of their tablet’s new display.
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