Branson vs. Murdoch: Who will win iPad media battle?

In light of Virgin's past, you would have to expect a move in the entertainment sector and you would hope so too. In this respect, the old aphorisms are the best: stick to what you know.

The multimedia capabilities of the iPad would really suit an entertainment-focused service over a straight read-only publication. With some neat use of multi-touch features, enhanced video functionality and greater interactivity, Virgin's so-called Project could bring something really refreshing to the table.

Regardless of quality though, the early stages of the Project's and the Daily's journeys will most likely be rough rides. Whilst the billionaires clearly have the monetary power to back their plans, the tablet market is a nascent one.

Any iPad-only publication risks having a small audience for a big investment you could easily see ROI coming back very small in the teething periods. Who comes out on top may not matter at all if both Branson and Murdoch fail.

There is a niggling feeling both have jumped the gun a little. iPads have been an undoubted success, selling close to 10 million already. But given the investment that will be needed in setting up the services, any hope of either Project or Daily delivering significant subscription revenue in the post-launch months can be forgotten about.

The numbers simply don't add up yet. If the Daily is sold for $0.99 a pop, for instance, the money coming in from consumers alone will not be massive, even if every single current iPad owner decides to become a regular reader.