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.

Filed in Apple >Tablets. Read more about iPad.

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