It cost $30m to launch. Now can iPad newspaper The Daily make any money?

The DailyNews Corp’s exclusive iPad newspaper was unveiled at the Guggenheim Museum in New York City today by Rupert Murdoch, joined by Apple’s Eddy Cue, who was standing in for Steve Jobs.

Featuring a 100+ page newspaper covering current affairs, gossip, opinion, arts and life, apps and games, and sports with lots of complementary multimedia content such as videos and 360 degree images, The Daily is available just in the US at present, at a cost of 99c a week through the iPad App Store.

The application will update throughout the day and you’ll be able to comment on articles, share them on social sites and even have some of them read to you.

Take a look round the application with The Daily introduction video or watch the launch video (needs Flash).

The Daily website proclaims ‘New times demand new journalism’ and says its mission is ‘to provide the best news experience by combining world-class storytelling with the unique interactive capabilities of the iPad.’

News Corp has done this by spending $30 million on getting The Daily launched; it’ll cost around $500,000 a week to keep it going. At 14 cents a day a $1 a week or £39.99 a year it’s going to need to be a success. But Murdoch is confident.

Interviewed by Fox News’ Neil Cavuto, Murdoch said brightly that everyone in America who could afford one is going to buy an iPad or similar tablet device. Asked if people would pay for a newspaper in this way, he explained, ‘Sure, absolutely…No one cares on their credit card, $0.99…They’re worried about their wives’ $100.’ Which gives us an interesting insight to who he thinks his initial audience is.

The DailyOn the subject of The Daily’s editorial direction he described it as, ‘A patriotic American newspaper which believes in free thinking and free markets and freedom for everybody…and you can read what you like into that.’

So how is it being received? There are some dark mutterings on Twitter about the privacy policy (left), as well as the usual anti-Murdoch sentiments that you find with any News Corp publication.

But the continuing take-up of iPads, the low subscription fee, the populist editorial approach, and the abundance of regularly updated and easily shareable content means (shhhh) it might just be a success.