After Texture Acquisition, Apple's Prepping News Subscription Service

Report: Apple to launch premium magazine and news subscription service within a year

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.

For those that don't know Texture is a service that lets users pay $10 a month to subscribe to over 200 magazines, and was purchased by Apple last month.

Texture lets users subscribe to more than 200 magazines for United States dollars 9.99 a month.

Apple will reportedly share a portion of the revenue from the new service with partner organizations. Texture now offers access to over 200 magazines for $9.99 per month; pricing for the new service is uncertain. An Apple news subscription service makes sense, no? Exactly what that ratio will be has not yet been revealed.

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Apple executives have said they plan to hit a target of $50 billion in services revenue by 2021. That would involve a premium "News" subscription added to the existing app, similar to how Apple Music's subscription is inside the standard Music app. The company bought Beats Music in 2014, shortly before debuting Apple Music with its $9.99-per-month paid tier. If anything, Apple Music showed how important free trials can be.

Apple's music subscription service, Apple Music, has successfully scaled an improved version of the Beats Music service from under 1 million to over 40 million subscribers in a matter of years. Texture previously had about 100 staff members.

The Bloomberg report also notes that Apple laid off about 20 Texture staffers soon after the acquisition in March.

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