Apple To Launch A Subscription-Based News Service Within Next Year

Apple Will Reportedly Launch a Paid News Subscription Service in the Next Year

Apple reportedly planning paid news subscription service

Prior to the acquisition, Texture had been charging $9.99 a month and had featured more than 200 magazines including People, Time, National Geographic, Esquire, GQ, The Atlantic and Rolling Stone.

Apple is planning some paid news thing, according to Bloomberg report - though it's unclear if that'll simply be a rebrand of the Texture digital magazine subscription service that Apple acquired in March, or something that includes news sources beyond magazines.

Apple has been looking for revenue from services to complement its device sales for years, which is why the success of Apple Music has been such a boon for the company.

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Last month, Apple announced that it was acquiring Texture, the digital magazine subscription service by Next Issue Media LLC.

There's an off-chance that we'll see this subscription-tier of Apple News launch as part of iOS 12, the next iOS update that's expected to debut at WWDC 2018. Previously Apple only sold music on an individual track basis through iTunes for about 99 cents per track. Texture had about 100 staff. This offers millions of songs for $9.99 per month, and now has more than 40 million subscribers. The acquired Texture app will be integrated into Apple News which will undergo several changes. Services revenue grew 23% to $30B in FY17, but execs have a goal of $50B by 2021. With this integration, the giant to start their own premium subscription services for those who want to stay up to date with news. "We want the best articles, we want them to look unbelievable, and we want them to be from trusted we don't have a lot of the issues going around", Cue said, likely alluding to the issues that Facebook and Google have had to deal with surrounding unverified news stories populating users' feeds.

Launching a news subscription service seems to be right up the company's alley and it could turn Apple News into the new "Netflix for magazines". However, it's likely that the company will use its current Apple News relationships to its advantage, as well as those that Texture brought into the mix (titles available on Texture included People, Rolling Stone, National Geographic, Sports Illustrated, and others).

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