One thing we can say about this is that, at least, it was his own money. But it also says that the corporates are not good at judging moods and tends ... they just have more money to throw about. It should also remembered, though, that this is the same Murdoch empire which is running the Times paywall experiment ... and probably with the same level of success. Had it been a runaway money-spinner, my guess is that we would never have heard the last of it.
As it is, we hear cautious claims, but get no figures. It cannot have been that successful, otherwise The Failygraph would have leapt in and converted its 31 million audience into a cash cow. But at least one now gets a feel as to how that particular corporate turned a profit. It is concentrating on its web presence, sacrificing quality in the pursuit of volume. This is a tempting model, but as the Murdoch corporation shows, it can also generate huge losses in the longer term.View full article here