“The Daily had over 100,000 paying subscribers. That ain’t nothing!”

Most salient thought on the demise of News Corp’s The Daily comes from Joshua Benton:

Here’s the thing: The Daily had over 100,000 paying subscribers. That ain’t nothing! With most subscribers paying $39.99 a year (others paid 99 cents a week), minus Apple’s cut, that’s around $3 million in annual revenue — and that’s before you add in advertising revenue. At various points, it was the highest-grossing app in the App Store in 13 different countries. In the United States, it’s been in the top 5 of news apps by gross since launch and, until this summer, consistently in the top 20 of all apps — even including Angry Birds and the rest. You can absolutely build a real online news organization on that kind of revenue.

You just can’t build one that has 200 staffers. Or 150 staffers. Or 100 staffers.

My thoughts are here.

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