Apple To Launch A Subscription-Based News Service Within Next Year

Apple To Launch A Subscription-Based News Service Within Next Year

It's thought that a new, simplified subscription service could boost Apple News usage and create a new revenue stream similar to Apple Music. Apple declined to comment...

"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 company's services division generated sales of $30 billion last year, and Apple is aiming to increase this to $50 billion within the next three years.

From 2011 to 2012, Apple and News Corp. - which owns The Times of London, the Wall Street Journal and Fox Broadcasting Company - launched The Daily, the first iPad-only news app. 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. Beats Music, with its fewer than one million subscribers, shut down not long after Apple Music came out.

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Now costing $9.99 a month, the service will eventually be managed by Apple's own news team. Before News, Apple had had Newsstand, which was essentially a market for purchasing subscriptions to individual magazines and newspapers. During a recent earnings conference call, Apple told analysts it had a total of 240 million paid subscriptions, with 58 percent year-over-year growth. The company now sells subscriptions for iCloud storage and Apple Music.

There will be some sort of revenue split between Apple and the publishers who will be featured in the service, but there's no details on that. It also gets a cut of subscriptions sold by third-party apps on the App Store. Users can also subscribe for free to content to always see the latest from a respective publication. Texture had about 100 staff. However, it's likely that the company will use its current Apple News relationships to its advantage, as well as those that Texture brought into the mix (titles available on Texture included People, Rolling Stone, National Geographic, Sports Illustrated, and others).

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