Published: Mon, March 12, 2018
IT&Software | By Alfonso Woods

Apple is buying the 'Netflix for magazines' company

Apple is buying the 'Netflix for magazines' company

We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers.

In statement on Monday, Apple senior vice-president Eddy Cue said "we are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users". Ready to experience magazines like never before? - More of what you love.

Apple has a lot of content coming down the pipeline, but it doesn't sound like the company is interested in a spray-and-pray approach, which seems to be where Netflix's original programming is heading lately.

The focus for Apple will be on telling great stories with its video programming, which is why the company is committing to longer-form videos.

Financial details for Apple's purchase of the entire company were not disclosed, but investment firm KKR spent $50 million for its stake in the company in late 2014, just before it was rebranded as Texture. "We don't try to sell the most smartphones in the world; we don't try to sell the most apps, we try to make the best one". For now, Texture will continue to operate as is. Cue mentioned a new PGA Tour AR golf app for iOS which enables any large table surface to hold a virtual golf course that can be moved around using your iPhone or iPad as a lens.

The largely evasive talk, titled "Curation in Media - Why It Matters", took the Austin Convention Centre audience through Apple TV and News strategy.

And yet, CNN's Dylan Byers, who interviewed Cue, asked why the NRA has a presence in the App Store and on Apple TV.

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