After Texture Acquisition, Apple's Prepping News Subscription Service

Report: Apple to launch premium magazine and news subscription service within a year

According to those familiar with Apple's plans, a new and improved Apple News app will be offered and a percentage of the subscription revenue will be given to magazine publishers who are part of the service. By integrating with a dedicated news portal, users will receive more accurate and timely news ahead of everything.

More or less similar to the Texture app, Apple will charge its Apple News customers with a fee of $9.99.

Apple bought Texture last month. The idea was to create a unified product that could stave off the big tech companies - more Hulu for magazines than Netflix for magazines. After cutting 20 Texture employees immediately after the acquisition, Apple absorbed Texture's headcount into Apple News' team. For that, Apple will update their news app, Apple News.

You might pay Apple every month for music or iCloud storage, but would you pay it for news?

Apple will ask the users to subscribe for this program by paying a sum of money on a monthly basis just like the previous Texture's subscription plan.

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If the Bloomberg report is accurate, it would appear that Apple is using the Texture service to build its news subscription offering.

Apple is preparing to give its online services division a shot in the arm by launching a beefed-up news subscription service, Bloomberg is reporting. The giant is approaching the same thing with new way by integrating with Texxture's service. It also gets a cut of subscriptions sold by third-party apps on the App Store.

Texture offers a digital subscription to over 200 magazines for $9.99/month. Since then, we've been waiting to hear about Apple's plans for the popular service.

By acquiring and implementing new things to the existing services, Apple will grow up their Businesses in various fields and this is how they will generate more money.

Apple shares took a hit in late March, falling as much as 10.4%, along with many other companies listed on the tech-heavy Nasdaq, after Facebook's Cambridge Analytica data scandal and President Donald Trump's crackdown on Chinese investment in USA technology rattled investors.

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