News apps account for seven per cent of the top 200 highest grossing apps.
The stats, from research firm Distimo, will be positive news for news giants that hope/pray tablets can become a digital medium they can actually make money from.
Apple launched Newsstand back in October as a new feature for iOS 5. It collects in one place digital versions of magazines and newspapers optimised for iOS devices, and then displays them in one 'Newsstand' icon on the iOS home screen.
The top grossing applications include The Daily, NY Times for iPad and The New Yorker Magazine.
Other key findings from the Distimo Report include:
* The US has been eclipsed by China as the largest market for free apps. During February 2012, daily downloads in the top 300 most popular free apps in China exceeded 1.1m, against 1m for the US
* The US remains the highest grossing country for iPad apps, ahead of Australia, Canada and the UK.
* Free Weather, Newsstand and Entertainment applications are the most downloaded apps per category
* Ten per cent of all apps in the Apple App Store for iPad feature in-app purchases compared to six per cent in the Apple App Store for iPhone and two per cent in Google Play.