Published: Tue, April 17, 2018
Research | By Jody Lindsey

Apple is working on Apple Music-like news subscription service

Apple is working on Apple Music-like news subscription service

Apple cut about 20 Texture staff soon after, according to one of the people. An Apple news subscription service makes sense, no?

A paid news subscription service would beef out Apple's services offering, which also includes storage through iCloud and music streaming through Apple Music. Texture offers more than 200 magazines for a rolling price of $9.99 per month. 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.

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Apple used to have an app called Newsstand that combined several magazines and newspapers, but the publications were only provided on an individual subscription basis. The new service will be more like Apple Music, offering an "all you can eat" approach with access to multiple titles for the flat fee.

Apple needs successes like that to meet a bold target for its services division. Executives have said they're targeting services revenue of roughly $50 billion by 2021. Altering the balance in favor of more subscription-based content could transform Apple News from a library- or RSS-like aggregator into more of a store.

As with developers in the App Store, or artists on Apple Music, the subscription service will work on a revenue split model.

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