There is no way around this fact: the first batch of magazines adapted to the iPad failed to deliver. Six months after the initial excitement, the mood has turned turned sour. See the figures below, they show the downturn in circulation for the much publicized iPad versions of a few American magazines:
– Wired: 100,000 downloads in June, 22,500 in October and November : down 78%. According to the Magazine Publishers Association, that’s not even a meager 3% of the average print copy circulation for the first half of 2010 — for an iconic tech magazine…
– Vanity Fair: 10,500 in August, 8,700 in November, down 17% and less 1% of the print sales.  (These numbers include single copy sales and subscriptions, which represent the bulk of the print revenues for US magazines).

via www.mondaynote.com

Good reco for publishers to innovate with Tablets. Stop thinking about "magazines".