Apple’s Newsstand generates $70K per day, study says

The top 100 publications in Apple’s iOS Newsstand generate about $70,000 per day, according to a study released today by research firm Distimo.

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Apple first released its Newsstand back in October as a new feature for iOS 5. The Newsstand is a store that allows people to buy digital versions of magazines and newspapers that are optimized for the iPad and (to a lesser extent) the iPhone/iPod touch. It’s displayed as a unique folder on the iOS home screen, meaning you can’t really ignore it. And much like the App Store, Apple takes a 30 percent cut of all Newsstand sales.

The study said most of the revenue generated daily is from in-app purchases from U.S. customers. The New York Times, News Corp.’s The Daily, and the New Yorker are among some of the top publications raking in money. News apps as a whole account for seven percent of the top 200 highest grossing apps, according to the study.

Not long after the Newsstand launched, several big magazine publishers were gushing about the boost in sales. For example, after reporting a 268 percent uptick in revenue, Conde Nast revised its digital strategy to put a greater focus on the Newsstand.

Do you use the iOS Newsstand to read your magazines and newspapers? Let us know in the comments.