Apple planning a subscription-based news service – report
MANILA, Philippines – Apple is planning to integrate a recent acquisition – the magazine application Texture – into Apple News in order to pave the way for a subscription-based news service, Bloomberg reported Tuesday, April 17.
Apple agreed to buy Texture – which lets users subcribe to more than 200 magazines for a monthly fee of $9.99 – back in March.
Bloomberg said Apple is integrating Texture's technology into the premium service, which will likely be an upgrade of the Apple News application.
People familiar with the matter also told Bloomberg the subscription offering is said to be launching within the next year, with a portion of the subscription revenue benefiting magazine publishers which have joined the program.
The move, much like Apple Music in the past, could spur growth in a new sector, one which it came into with the help of acquisitioning existing companies. Apple Music came out of the acquisition of Beats Music for $3 billion, and has grown the service into one with 40 million paying users. – Rappler.com