Last month, Apple announced it acquired the digital magazine distributor Texture as an entry to the journalism world. Now, it plans to use its platform to launch a premium news subscription by 2019.
Apple aims to integrate Texture’s platform — which cataloged more than 200 magazines and curated them based on the user’s interests for a $9.99-a-month subscription — into Apple News to develop the news subscription platform, Bloomberg reported Tuesday.
After cutting 20 Texture employees immediately after the acquisition, Apple absorbed Texture’s head count into Apple News’ team.
The updated Apple News app, with a subscription offering, plans to launch within the next year, according to Bloomberg.
A sliver of the yet-unknown subscription cost will go the magazines.
“We’re excited Texture will join Apple, along with an impressive catalog of magazines from many of the world’s leading publishers,” said Apple executive Eddy Cue in a news release after Texture’s acquisition on March 12.
“We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.”
Apple’s foray into digital journalism highlights the Cupertino tech giant’s rapid expansion in its services segment, which includes Apple Music, iBooks and other services.
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The services segment was the second-fastest-growing category for Apple in its latest earnings report in February. It grew 18 percent in the company’s 2018 first quarter compared with the same period a year earlier. It finished behind the “other devices” segment — which includes Apple Watch, AirPods and Apple TV — at 36 percent.