Apple said to plan Apple Music-like news subscription service

Kristine Garrett | 17 April, 2018, 17:32

An Apple news subscription service makes sense, no?

First introduced as Next Issue in 2010, Texture offers subscriptions to over 200 magazines for one monthly price. During the acquisition, Bloomberg reports about 20 staff at Texture were cut by Apple so it looks like around 80 people were brought over from the service's ~100-person team. Apple intends to release an updated Apple News application with the subscription service integrated, and plans to share revenues with magazine publishers that are in the program.

Apple did not respond to request a comment on the report.

Apple announced plans to purchase Texture last month.

Apple used to have an app called Newsstand that combined several magazines and newspapers, but the publications were only provided on an individual subscription basis. Back in 2014, the company bought Beats and the Beats Music service that had less than a million subscribers at the time.

Apple needs successes like that to meet a bold target for its services division.

Earlier this year, the company acquired magazine app Texture. Executives have said they're targeting services revenue of roughly $50 billion by 2021. The company could also choose to turn its original video content efforts into its own Netflix-like video subscription service. The creation subscription news service based on Texture would follow a similar model. Texture had about 100 staff.

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Apple said to plan Apple Music-like news subscription service

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