Published: Tue, April 17, 2018
Hi-Tech | By Wayne Curry

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 a Bloomberg report, Apple plans on integrating the Texture magazine app into Apple News and debuting its own "premium subscription" within the next year. Apple has said that it is targeting annual service revenue of $50 billion by 2021. Still, it's unclear how Apple News will display magazine content, specifically whether articles will be shown in their PDF-like downloadable forms or forced to adapt to News's web-like scrollable and dynamically reformattable interface.

More likely, it's being saved for iOS 13. Apple acquired Texture just last month and apparently has already let twenty employees go as they work to assimilate the company.

There's a bigger question out there: will consumers be willing to pay for premium news and magazine content in the same way they now pay for Netflix video content? The idea was to create a unified product that could stave off the big tech companies - more Hulu for magazines than Netflix for magazines. But previous efforts like Newsstand weren't an all-you-can-eat way of going about it. This doesn't necessarily mean that the new service is in trouble, but there's no question that a paid news service is a significantly riskier gamble that streaming music.

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Texture gave users the opportunity to subscribe to over 200 magazines for a $9.99 monthly fee. This will be a similar service as major companies will be offering content based on subscriptions.

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. Apple would then share a portion of that revenue with those publishers, the report says. Beats Music, with its fewer than one million subscribers, shut down not long after Apple Music came out. The giant is also generating extra revenues from the third party apps which made available on the App Store for the users.

Currently, there are no details about which news organizations Apple would partner with for the subscription service.

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