Murdoch revealed that The Daily will cost $0.14 per day ($0.99 per week) and says the app will be “the model for how stories are told and consumed.” The app will also include “stunning photography” and HD video. Murdoch adds that Apple’s Steve Jobs has changed “the world of technology and media” and that Jobs has been a “champion of The Daily since day one.”
Murdoch reiterates, these “new times demand new journalism.” Yearly subscriptions to The Daily will cost $40 per year. In terms of cost of production, Murdoch said that the development of The Daily set News Corp. back by $30 million or so, but will only cost the media conglomerate $500,000 per week in operation costs.
News Corp is the world’s largest media conglomerate company. News Corporation is a diversified global media company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers and information services; book publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and Latin America. Fox Interactive Media (FIM) oversees News Corporation’s Internet business operations. News Corp’s subsidiaries include: MySpace Slingshot Labs WSJ.com