Apple is reportedly planning to launch its own premium news subscription service.
Bloomberg says Apple is now integrating the technology and employees behind Texture into its own News app and team to develop the service. In order to achieve Apple's new premium service, rest of the Texture technology employees will be integrated into the Apple News team.
There's an off-chance that we'll see this subscription-tier of Apple News launch as part of iOS 12, the next iOS update that's expected to debut at WWDC 2018. This offers millions of songs for $9.99 per month, and now has more than 40 million subscribers. It's thought that a new, simplified subscription service could boost Apple News usage and create a new revenue stream similar to Apple Music.More news: Saint Are recovering well after Grand National fall
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Before it was sold to Apple, Texture was a joint venture from magazine publishers, including Condé Nast, Meredith, and Hearst. Altering the balance in favor of more subscription-based content could transform Apple News from a library- or RSS-like aggregator into more of a store. In 2014, Apple spent $3 billion for Beats to jump-start its music services, and $15 million for BookLamp, which was then touted as a "Pandora for books". Apple has said that it is targeting annual service revenue of $50 billion by 2021.
Repeating the success of the Beats deal with a Netflix for news will be hard, according to Gene Munster, a longtime Apple analyst and co-founder of Loup Ventures. Apple News would be just one more source of revenue for the company's fastest growing business segment.
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.