Apple buys 'Texture' Magazine Subscription App

Eddy Cue Apple Launch 2017

Apple announced the impending acquisition in a news post this week. Apple previously awarded the app an App Store reward back in 2016.

The app Texture is often called 'the Netflix of magazine subscriptions, ' allowing users to read publications from all across the country for a low-priced monthly fee.

Apple Inc will buy the digital service Texture, which gives users access to articles from magazines published by various companies for a monthly subscription fee, the iPhone maker said on Monday. Each issue is available in full but includes special formatting to improve its in-app presentation.

Texture is owned by Next Issue Media, a joint venture formed by Condé Nast, Hearst Magazines, Meredith Corp, News Corp and Rogers Media.

There is no word on what Apple intends to do with the purchase. The Cupertino, California, company aims to top $50 billion (roughly Rs. 3.24 lakh crores) in annual services revenue by 2021, and a magazine subscription service would likely contribute to that. You can even find our content on Apple News. It replaced that with the more comprehensive Apple News service a couple of years ago. Apple's decision to acquire Texture could significantly boost the service, which was reported to have 150,000 subscribers in 2014.

"We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers", said Apple's senior VP Eddy Cue. "We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users".

The company didn't say how much it paid for Texture, but the move marks Apple's second reported acquisition of the calendar year. "We could not imagine a better home or future for the service". It's now available on iOS, Android, Amazon Kindle Fire and Windows 10.

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