Published: Tue, April 17, 2018
IT&Software | By Alfonso Woods

Apple plans to launch the Apple Music of magazines

Apple plans to launch the Apple Music of magazines

Apple notoriously likes to control news about itself, as part of maintaining its public image.

Apple is planning to launch a new premium news subscription service, based on its recent acquisition of magazine app Texture, people familiar with the matter told Bloomberg News.

Bloomberg says Apple is now integrating the technology and employees behind Texture into its own News app and team to develop the service.

A new, simplified subscription service covering multiple publications could spur Apple News usage and generate new revenue in a similar manner to the $9.99 per month Apple Music offering.

First introduced as Next Issue in 2010, Texture offers subscriptions to over 200 magazines for one monthly price.

Apple's services business is orders of magnitude smaller than its hardware business, but the company has had success with its Apple Music service, which now boasts almost 40 million subscribers. However, these are now sold individually. Now, Apple Music boasts more than 40 million subscribers. Sales from that segment grew 23 percent to $30 billion in the company's 2017 fiscal year.

Apple will likely carefully curate the partner organizations for its news service. Apple also gets services revenue from Apple Pay transactions, App Store downloads, iTunes music, movie, and TV show purchases, and digital book downloads. "We want the best articles, we want them to look wonderful, and we want them to be from trusted sources.so we don't have a lot of the issues going around", Cue said, likely alluding to the issues that Facebook and Google have had to deal with surrounding unverified news stories populating users' feeds. This doesn't mean Apple is entering the journalism business, and according to Bloomberg profits from the subscription will be split between Apple and content providers.

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