Apple which recently acquired Texture, the digital magazine subscription platform, is said to be readying a premium news subscription service that will be powered by Texture. Apple News which is already a live product will get a under the hood tweak with the integration of Texture which allows users to subscribe to more than 200 magazines for $10 a month. The plans are part of an effort by apple to generate more revenue (yes Apple needs more revenue sources) and it also pushes the company further into the media space. Apple plans to share some of the subscription revenue with participating publishers.
The world’s largest technology company is integrating Texture technology and the remaining employees into its Apple News team, which is building the premium service. An upgraded Apple News app with the subscription offering is expected to launch within the next year, and a slice of the subscription revenue will go to magazine publishers that are part of the program, the people said. They asked not to be identified discussing private plans. Apple declined to comment.
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