Apple planning a news subscription service similar to Apple Music, sources say

Apple planning a news subscription service similar to Apple Music, sources say

According to a new report from Bloomberg, Apple will utilize its acquisition of Texture to launch its own paid subscription service, incorporating magazines from a variety of publishers. These plans are created to help Apple boost its services business to meet revenue goals the company has set for itself over the next few years.

First introduced as Next Issue in 2010, Texture offers subscriptions to over 200 magazines for one monthly price.

Which makes sense when you think about it. Apple already makes a decent slice of cash by selling music and video on iTunes, alongside subscriptions for Apple Music, so it makes sense that it would want to expand that to other areas.

This is actually not the first time Apple has attempted a news subscription service.

As it stands Apple News is more like a collection of various articles pulled from various publications.

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A new report out of Bloomberg suggests Apple plans to launch its own news-focused subscription service in the next year.

Apple will likely carefully curate the partner organizations for its news service.

Apple's ambitions for Texture, the "Netflix of magazines" app that it acquired last month, are slowly coming into the light. Apple also gets services revenue from Apple Pay transactions, App Store downloads, iTunes music, movie, and TV show purchases, and digital book downloads. It's clear the company is looking for the same success story with its upcoming news subscription.

Bloomberg says Apple is now integrating the technology and employees behind Texture into its own News app and team to develop the service.

Currently, there are no details about which news organizations Apple would partner with for the subscription service.

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