Apple may debut its own news subscription service within the next year

Apple may debut its own news subscription service within the next year

Apple may debut its own news subscription service within the next year

According to the report, the company will integrate Texture, a magazine subscription service that was recently acquired by the tech giant, into its existing News app and offer it as a standalone service you pay monthly for. 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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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. Beats Music, with its fewer than one million subscribers, shut down not long after Apple Music came out. An Apple news subscription service makes sense, no? This approach would set it apart from Apple's previous Newsstand app, which gave users access to magazine subscriptions on an individual basis. Then, within the next year, Apple is expected to launch "an upgraded Apple News app with the subscription offering", and some of the revenue generated from the subscriptions will be distributed to the magazine publishers participating in the program. Altering the balance in favor of more subscription-based content could transform Apple News from a library- or RSS-like aggregator into more of a store. Sales from that segment grew 23 percent to $30 billion in the company's 2017 fiscal year. The company could also choose to turn its original video content efforts into its own Netflix-like video subscription service. Apple cut around 20 people from Texture team shortly after buying the app in March, people familiar with the company's plans told Bloomberg.

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Apple bought Texture last month. Texture previously had about 100 staff members.

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