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Apple to buy digital magazine service Texture

14 March 2018

Apple did not disclose the financial terms of the deal.

Next Issue Media LLC, owner of Texture, hired investment bank Moelis & Co.in the past year to advise on a sale process, said the person, who asked not to be identified because the matter is private.

"If you look at the number of subscribers Spotify and Apple Music have together versus the number of people listening to music around the world, or even the amount of traffic to our App Store - we have half a billion people visiting the App Store every week - music is just "this big" in the scheme of things", said Cue. Users can read digital copies of any of the magazines inside the Texture app.

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Impressive catalogue of magazines "We're excited Texture will join Apple, along with an impressive catalogue of magazines from numerous world's leading publishers", Apple senior vice president of internet software and service Eddy Cue said in a statement. The company's push into aggregated content with its Apple News service has unsettled publishers which prefer to connect with consumers through first-part channels.

Published via the Guardian News Feed plugin for WordPress.

Texture will join a stable of Apple subscription options that are anchored by the company's music-screaming service, which has 36 million subscribers. We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.

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Apple has announced that it has finalized a deal to acquire magazine subscription service Texture, which is known as the "Netflix of magazine publishing". Apple and representatives from Texture didn't respond to requests for comment.

Unlike most Apple products, Texture will be available on devices powered by Google's Android software in addition to the iPhone and iPad. "We could not imagine a better home or future for the service".

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Apple to buy digital magazine service Texture