Apple Could Be Considering Launching News Subscription Service

Apple bought Texture last month.                  Texture

Apple bought Texture last month. Texture

According to a new report from Bloomberg, Apple will utilize its acquisition of Texture to launch its own paid subscription service, incorporating magazines from a variety of publishers.

The world's largest technology company is integrating Texture technology and the remaining employees into its Apple News team, which is building the premium service.

Apple has been looking for revenue from services to complement its device sales for years, which is why the success of Apple Music has been such a boon for the company. Executives have said they're targeting services revenue of roughly $50 billion by 2021.

The subscription could launch later this year in an updated version of the Apple News app, according to the report.

Apple is planning to launch a premium subscription for news, Bloomberg reported. At the time, Beats Music had fewer than a million subscribers, and Apple has turned that into more than 40 million paying users.

Currently, Apple sells subscriptions for iCloud storage and Apple Music.

Apple News now offers the ability to sell advertisements to participating publishers, but given Apple's personal privacy policies, a subscription service may be a better fit for the iPhone company.

Apple's services business is orders of magnitude smaller than its hardware business, but the company has had success with its Apple Music service, which now boasts almost 40 million subscribers. Texture had about 100 staff. The company's SVP Eddy Cue spoke about a number of topics at SXSW last month, including the current Apple News app.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.