Not quite true lol! Circulation 1.7m, population 60m.
I think the website is used more these days, as - despite its blatantly biased unreliable unconfirmed tabloidy sloppy reporting - it does have great photos and is often the first/bravest to publish stories.
In the scheme of things, it is a major player. In fact, if any papers in the UK are biased on unreliable unconfirmed tabloidy sloppy reporting any more so than the others, that would be The Sun and the Daily Mirror.
Uk Papers (population 64,100,000)
Monday - Friday Readership December 2014:
The Sun 1,802,945
Daily Mail 1,437,541
Daily Mirror 831,052
Daily Telegraph 439,098 and the rest of the papers go down from there.
Saturday the Daily Mail nets 2,246,196 readers compared with Saturday's The Sun 2,207,429 (i.e. higher than the Sun)
Australian papers (Population 23,490,000)
Monday - Friday December 2014:
The Australian 340,000
Daily Telegraph 638,000
Sydney Morning Herald 518,000, once again, the rest of the papers go down from there.
Saturday The Australian nets 663,000, Daily Telegraph 596,000.
Having lived in the UK I can assure you, it is a major player as far as newspapers go.
"Reputable" papers such as the Times and The Guardian figures respectively: 353,341 and 147,786, considerably lower than The Sun, Daily Mail, etc.
Although the figures may vary slightly depending on what resources you delve into, they pretty much tell the same story in comparison with competitor newspapers.
http://en.wikipedia.org/wiki/List_of_newspapers_in_the_United_Kingdom_by_circulation
http://www.mailclassified.co.uk/advertising-tools/circulation-readership
http://www.roymorgan.com/industries/media/readership/newspaper-readership