Bloomberg reports that Apple is planning to launch a subscription news service powered by some of the work done at Texture. Texture now offers access to over 200 magazines for $9.99 per month; pricing for the new service is uncertain.
The Cupertino company now offers access to a variety of news services through its Apple News app, however, many of these require individual subscriptions.
Apple's former attempt at an all-in-one digital magazine and newspaper destination, Newsstand, which was a built-in iOS app, was discontinued in 2015 after a six-year attempt in the industry.
We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers. The new service will be more like Apple Music, offering an "all you can eat" approach with access to multiple titles for the flat fee. Apple acquired Texture just last month and apparently has already let twenty employees go as they work to assimilate the company. This very same team is the one that's now building the new premium subscription service for Apple. Back in 2014, the company bought Beats and the Beats Music service that had less than a million subscribers at the time.
Will a Netflix for news and magazines be the final piece of the puzzle for Apple's services division? Apple also gets a 15 percent cut from the subscription revenues that are being sold by third-party apps through the App Store, as pointed out by TechCrunch. Apple recently announced that Apple Music has surpassed 40 million paid members, and while that may not be a realistic goal for the Apple News service, the company has proven that it knows how to market its services.
Make it your business.