All the sessions from Transform 2021 are available on-demand now. Watch now.
Digital magazine The Daily has laid off nearly a third of its staff to help the unprofitable publication save costs, parent company News Corp. announced today.
Since the launch of the The Daily in February 2011, people have wondered if an iPad-only publication could make enough money to be sustainable. It currently loses $30 million a year, and executives projected that it would take five years to break even. With News Corp. planning to split its publishing and entertainment businesses, that timeline doesn’t look so viable anymore.
In a press release, The Daily said it would cut 50 full-time employees, or 29 percent of its full-time staff. The sports section will be gutted and replaced with content from “partners” like Fox Sports. The opinion section will be cut entirely.
The publication also said it would move to a “portrait-only orientation,” which could help it save money on development. Videos will still be viewable in landscape mode.
Photo: The Daily
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more