Apple Moves Into Digital Magazine Business With Texture Aquisition
Apple has moved into the digital publication media business via the overnight acquisition of the Texture App previously owned by Next Media.
The digital magazine subscription service that has been compared to Netflix charges subscribers $9.99 a month to access more than 200 e/print titles.
Texture will continue to operate on Android, Kindle Fire and Windows 10, according to Apple, which has paid an undisclosed amount for the company.
The purchase represents yet another move from a tech giant into media ownership and delivery.
While Apple provides access to third-party content through its News app, this is the first time the firm has moved into the ownership game.
Although the publications in question remain owned by their respective publishing houses, Apple has gained control of an important delivery mechanism.
Some are now speculating that Apple plans to build out their own media operation delivering news and content.
The acquisition will deliver offer another revenue boost to Apple’s increasingly profitable services division, alongside Apple Music.
Apple’s SVP of internet software and services, Eddy Cue, said: “We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.”