It’s been 12 months since the iPad-exclusive magazine The Daily hit the digital newstands, and already the publication has racked up an impressive 100,000 subscribers.

The first app to take advantage of Apple’s then-new In-App Subscription service, The Daily offers users the choice of two subscriptions – $0.99/week or $39.99 for the full year.

According to a Mashable interview with News Corp’s Glen Cayman, despite being one of the top grossing iPad apps of 2011 and amassing a huge number of subscribers The Daily still isn’t profitable – yet.

Over the next couple of years. From what I’ve seen, the average time it takes for a new magazine publication to get profitable is five to seven years. We’re on track to be ahead of that, which is great. When you calculate magazine profitability, you have to take into account the rising costs of paper and ink. We don’t have any of those costs. We’re in a very good place.

The Daily is available as a free download from the App Store, with Android and iPhone versions soon to be released.