Taking a page from News Corp.’s model for The Daily, Apple has green lit a new subscription plan for publishers that distribute their digital content through the app store.  The program, which was announced today, will affect hordes of magazine and newspaper publishers including many of the titles that already have their products available in the app store such as The New York Times and New Yorker. The New York Observer received the following news from Apple about their subscription format.

Publishers set the price and length of subscription (weekly, monthly, bi-monthly, quarterly, bi-yearly or yearly). Then with one-click, customers pick the length of subscription and are automatically charged based on their chosen length of commitment (weekly, monthly, etc.).

Apple CEO Steve Jobs further clarified the profit breakdown between his company and contributing publishers.

Our philosophy is simple – when Apple brings a new subscriber to the app, Apple earns a 30 percent share; when the publisher brings an existing or new subscriber to the app, the publisher keeps 100 percent and Apple earns nothing.

Read more