Tech

Apple to launch a news subscription service, report says

Apple to launch a news subscription service, report says

Now, though, a report claims Apple will be putting the newly acquired Texture to work, using it to integrate a premium news and magazine subscription service into Apple News.

About a month ago, Apple spent part of its enormous cash reserves on acquiring digital magazine subscription service Texture. Texture, meanwhile, operated more like a "Netflix for magazine publishing", where readers were able to access around 200 magazines for a monthly fee of $9.99. The remaining ones are now being integrated into the Apple News team.

A new report out of Bloomberg suggests Apple plans to launch its own news-focused subscription service in the next year. Seeing as how the company managed to take less than a million people who had subscribed to Beats Music and turn them into 40 million Apple Music listeners, it's not like they have no experience convincing people to hand over a bit of money every month. Exactly what that ratio will be has not yet been revealed. These plans are created to help Apple boost its services business to meet revenue goals the company has set for itself over the next few years.

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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. Texture had about 100 staff. Beats Music, with its fewer than one million subscribers, shut down not long after Apple Music came out. Would Apple kick them out of the subscription program, if news became unfavorable? It's clear the company is looking for the same success story with its upcoming news subscription.

Currently, there are no details about which news organizations Apple would partner with for the subscription service.