Apple reportedly launching subscription news service - A premium Apple News app
Bloomberg reports that Apple has acquired Texture, known as the “Netflix of magazines” and is now planning to develop its own subscription news service. Texture, which currently offers 200+ magazines for $9.99 per month, will be rolled into Apple’s News team with a new app with subscription option is expected to launch within the next year. Apple has attempted a subscription news service in the past with its Newsstand app. The original app offered digital versions of newspapers and magazines but was discontinued when Apple moved to the Apple News platform instead. There was also a previous partnership with News Corporation to create an iPad only news publication called The Daily. The Daily was discontinued after less than two years with the explanation of a lack of audience to create a sustainable business model.