Industry

Apple may become 'the Netflix of magazines' with paid-subscription News makeover

Apple may become 'the Netflix of magazines' with paid-subscription News makeover

Tim Cook, chief executive officer of Apple, speaks during an even last month introducing a low-priced iPad geared toward students. Apple News has featured integration with publisher subscriptions for more than a year now, including for newspapers including The Washington Post and The Wall Street Journal.

Sources say that when the news subscription service launches next year, a portion of the subscription revenue will go to magazine publishers that are part of the program.

Apple did not respond to request a comment on the report.

Last month, Apple announced it acquired the digital magazine distributor Texture as an entry to the journalism world.

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Apple plans to integrate Texture's platform - which catalogued more than 200 magazines and curated them based on the user's interests for a $9.99-a-month subscription - into Apple News to develop the news subscription platform, Bloomberg reported Tuesday. 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. That streaming service was also built through an acquisition: Apple bought Beats Music and the Beats audio device business in 2014 for $3 billion. Services revenue grew 23% to $30B in FY17, but execs have a goal of $50B by 2021.

While Apple hasn't confirmed its plans for Apple News, the company in March signaled that it could be moving towards a news subscription model when it acquired the startup Texture.

Which makes sense when you think about it. Apple already makes a decent slice of cash by selling music and video on iTunes, alongside subscriptions for Apple Music, so it makes sense that it would want to expand that to other areas. Texture had about 100 staff. This time, Apple cut roughly 20 people from Texture, including assistants, software engineers, and managers, according to one of the people familiar with the matter.


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