As Apple seeks to bring in more revenue from online services and content, the tech company plans to integrate the technology behind Texture into its Apple News mobile app and develop a premium magazine subscription offering, Bloomberg reported.
Apple acquired Texture last month, which offers users subscriptions to more than 200 magazines for a monthly fee of $9.99. Following the acquisition, Apple reportedly cut approximately 20 jobs from Texture. The remaining staff is working on the Apple News team as it prepares to roll out its own premium subscription service.
A new version of Apple News — with the premium offering — may be released sometime over the next year. With the launch, a source familiar with the app said that magazine publishers will take a share of the subscription revenue. The concept is not entirely new: In the past, Apple had a Newstand app, but it only offered subscriptions to individual publications. The company took the same approach when it launched Apple News in 2015.
The news comes about a month after Apple announced it was acquiring Texture, a digital magazine subscription service owned by Next Issue Media. In a blog post, the Cupertino, California-based technology company said the service gives customers unlimited access to magazines for a monthly subscription fee. Texture offers customers the choice of more than 200 magazines.
“We’re excited Texture will join Apple, along with an impressive catalog of magazines from many of the world’s leading publishers,” Eddy Cue, Apple’s senior vice president of Internet Software and Services, wrote in a blog post announcing the deal. Terms of the transaction were not disclosed. “We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.”
Texture launched in 2010 and since then has become a leading player in offering digital subscriptions to magazines. In 2016, it was chosen by the editorial team at Apple’s App Store for its annual Best Of selections, which recognizes innovative apps and games for iOS users.