Apple announces plans to acquire digital magazine service Texture

Ruben Ruiz
March 13, 2018

The service provides unlimited digital access to more than 200 magazines for a monthly fee.

Texture, offered via the app stores of Apple, Google and Amazon.com Inc., bolsters Apple's efforts in online services and media, Bloomberg reports.

Apple did not disclose the financial terms of the deal.

Mr. Evans highlighted the quote from Cue emphasising the "quality journalism from trusted sources", calling it "rather revealing" and "quite clever positioning". In 2015, the app changed& amp; amp; nbsp;its name to Texture, while the venture continued to operate as Next New Media.

Although Apple didn't detail their plans, the company confirmed that Texture will become integrated with Apple News in the future. Private equity firm KKR also invested $50 million in Next Issue Media in 2014. The iPhone-maker says that it has signed an agreement about the acquisition but does not say when it will complete.

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In late 2016, the Alliance for Audited Media (AAM) certified Texture to verify its circulation numbers for advertisers.

In a statement on the company's website, Apple emphasised its focus on trustworthy news sources, a subtle dig at Silicon Valley rivals that have helped to spread false news and disinformation.

The service has evolved to feature curated content based on users interests, but the $10-a-month subscription model has remained in place. Alternatively, Texture may eventually benefit from the suggestion algorithms Apple's already developed for News. Other small-time acquisitions Apple made recently include its purchases of Pop Up Archive in December and of Buddybuild in January.

"We don't try to sell the most smartphones or tablets in the world - we try to make the best one", Cue said. The streaming music company has over 70 million subscribers, almost double the size of Apple Music. That could generate upwards of $360 in annual subscription revenue from those users - more than half of the average selling price (ASP) of an iPhone previous year.

Other reports by GizPress

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