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. Services revenue grew 23% to $30B in FY17, but execs have a goal of $50B by 2021. Texture offers over 200 magazines for a $9.99/month subscription. Beats Music, with its fewer than one million subscribers, shut down not long after Apple Music came out.
"We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users", said Eddy Cue, Apple's senior vice president of internet software and services in a statement after the company bought Texture last month. The report also says an updated Apple News app with the subscription built-in will land within the next year, with a portion of all revenue going to participating publishers.
Since acquiring Texture, Apple has reportedly parted ways with 20 of Texture's 100 employees. While you can already purchase subscriptions through the Apple News app, which no doubt earns Apple some money, selling individual issues or subscriptions isn't quite the same as offering people a huge bundle of content in exchange for a single monthly fee.
As it stands Apple News is more like a collection of various articles pulled from various publications.
Apple will likely carefully curate the partner organizations for its news service. The end result is a news subscription service that would be similar to what Apple has done for Apple Music, except for news. "We want the best articles, we want them to look unbelievable, and we want them to be from trusted sources.so we don't have a lot of the issues going around", Cue said, likely alluding to the issues that Facebook and Google have had to deal with surrounding unverified news stories populating users' feeds.