Apple to buy digital magazine service Texture

Mindy Sparks
March 14, 2018

In 2016, Texture chief executive John Loughlin told the New York Post that it had "several hundreds of thousands" of revenue subscribers and expected a 50 percent growth in the coming year.

Apple is to buy the digital magazine service Texture, which lets users read titles for a monthly subscription fee. The company said it has "signed an agreement" to purchase Texture, launched in 2010 by Next Issue Media LLC. Next Issue Media is now owned by a group of publishers and other companies including Hearst Corp., Meredith Corp., News Corp. and Rogers Communications Inc. The acquisition comes as Apple tries to expand its services business, which already includes Apple Music and the App Store. Before it rebranded in 2015, it was a joint venture by Condé Nast, Hearst, Meredith, News Corp., Rogers Communications, and Time Inc., which founded the app and Next Issue Media as an effort to monetize digital media, the Verge reports. READ NEXT:Google publishes new research into how neural networks "think" Apple's thought to be purchasing the app in an attempt to appease publishers and news organisations. You can even find our content on Apple News. The app may also mark a revival of Apple's abandoned "Newsstand" product, a marketplace for newspaper and magazine apps. We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users. Apple and representatives from Texture didn't respond to requests for comment.

Apple Music has reached 38 million subscribers, a gain of 2 million in just over a month, the company's SVP Eddy Cue said during a chat with CNN's Dylan Byers at the South by Southwest Conference on Monday, according to 9to5Mac. "We could not imagine a better home or future for the service". The Texture app is available for iPad, and iPhone, Android devices, and Amazon Fire tablets.

On stage at SXSW, Apple Senior VP of Internet Software and Services was asked if those investments meant that it would buy a major player like Netflix or Disney.

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