News Corp. chief Rupert Murdoch believes The Daily
, the media company's iPad-only magazine, needs 500,000 monthly readers to make money. Bloomberg reports
that The Daily
is averaging about 120,000 readers a week, which is only about 1/4 of what it needs. 120,000 is still a very impressive paid subscription number for content available only on the iPad.
People can get a free two week subscription to The Daily
, so the true subscriber number could be less than 120,000. Hopefully, News Corp. will give The Daily
more time to gain traction before giving up on it.