According to a new report from Bloomberg, Apple will utilize its acquisition of Texture to launch its own paid subscription service, incorporating magazines from a variety of publishers. Pricing is also a mystery right now, but its possible that Apple takes the same approach as Texture did (and that Apple Music currently takes), charging $9.99 per month for access to the whole lot of partnering news sources. The news subscription service would fall into Apple's services business, which has been an ever-growing part of the company's profile over the past few years. While you can already purchase subscriptions through the Apple News app, which no doubt earns Apple some money, selling individual issues or subscriptions isn't quite the same as offering people a huge bundle of content in exchange for a single monthly fee.
Assuming Bloomberg is correct in reporting that Texture will lead to a similar subscription-based model for magazines in Apple News, it raises some concerns.More news: 'Stratospheric offer' - Both PSG & Man United keen on Casemiro from Real Madrid
Apple did not respond to request a comment on the report.
Apple's music subscription service, Apple Music, has successfully scaled an improved version of the Beats Music service from under 1 million to over 40 million subscribers in a matter of years. Services revenue grew 23% to $30B in FY17, but execs have a goal of $50B by 2021.More news: Alleged racist chanting during Russia v France to be investigated by Fifa
Services become increasingly important to Apple's future.
Which makes sense when you think about it. Apple already makes a decent slice of cash by selling music and video on iTunes, alongside subscriptions for Apple Music, so it makes sense that it would want to expand that to other areas.More news: United States to impose sanctions on Russian Federation over Syria aide, Haley says
Apple's ambitions for Texture, the "Netflix of magazines" app that it acquired last month, are slowly coming into the light. Texture previously had about 100 staff members.
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