Apple Generates $70K Daily From Newsstand

Apple proved there was a huge market for apps years ago when it launched the App Store and today just about every major OS out there has its own version. More recently, Apple launched its digital newsstand app to allow iPad users to download digital editions of newspapers and magazines. If you wondered how well sales are doing for digital magazines and newspapers for Apple, new details have landed.

A market research firm called Distimo has conducted the study during the month of February that looked at sales during the month. According to the study, the top 100 publications combined generated more than $70,000 a day from the United States alone. The top publications are The Daily, the New York Times, and The New Yorker magazine.

The newsstand app is its own storefront for digital publications and revenue generated is split 70/30. The publisher gets 70% of money made with Apple taking 30% for itself. Users who subscribe to the print versions can also get the digital versions for free in some instances.

[via CNET]