Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers", he said.
Apple News is now a free app that delivers a personalized selection of content from a choice of publishers, with the ability to follow certain topics as well as subscribe to magazines and newspapers directly through news. A part of the money will directly go to the publishers of Texture and this is how the giant will distribute the revenues earned through this new Apple News portal. The new service will be related to news and following Apple's acquisition of the Texture app, the news subscription service seems like a good move. 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. This offers millions of songs for $9.99 per month, and now has more than 40 million subscribers. Since then, the company has turned the service into Apple Music and now has over 40 million paid users on the platform.
A new report out of Bloomberg suggests Apple plans to launch its own news-focused subscription service in the next year.
Apple needs successes like that to meet a bold target for its services division. 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. If anything, Apple Music showed how important free trials can be.
Apple will reportedly share a portion of the revenue from the new service with partner organizations.
Job reductions at Texture aren't necessarily a sign that the news subscription effort is off to a slow start. 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). Texture previously had about 100 staff members.