Just over a month after Apple acquired digital magazine app Texture, Bloomberg reports that the company is planning to integrate the service into Apple News and launch its own premium news subscription service. Now sources speaking to Bloomberg claim the company has plans to integrate it with News within the next 12 months, as part of a push to generate more money from online products and services.
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. The service is said to be intended for launch within a year, placing the launch somewhere between the annual SXSW and WWDC events, if not sooner.
A paid news subscription service would beef out Apple's services offering, which also includes storage through iCloud and music streaming through Apple Music. This heavy-handed strategy means that Apple won't respond to some day-to-day press inquiries, unless it's to set the record straight on unflattering reports.
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.
Today, however, Apple takes a 15 percent cut on subscriptions sold in the App Store. If anything, Apple Music showed how important free trials can be.
Franklin Resources Inc. Acquires 12663 Shares of Express Scripts (NASDAQ:ESRX)
Mutual Federation Of Agricultural Cooperatives reported 0.02% of its portfolio in Express Scripts Holding Company (NASDAQ: ESRX ). The Meag Munich Ergo Kapitalanlagegesellschaft Mbh holds 72,516 shares with $5.47 million value, down from 310,281 last quarter.
As it stands Apple News is more like a collection of various articles pulled from various publications.
Apple needs successes like that to meet a bold target for its services division.
Apple will likely carefully curate the partner organizations for its news service. However, these are now sold individually. The company could also choose to turn its original video content efforts into its own Netflix-like video subscription service.
Apple announced plans to purchase Texture last month.
Job reductions at Texture aren't necessarily a sign that the news subscription effort is off to a slow start.