Rumor: Apple to launch a magazine/news subscription service within a year

Following Apple’s acquisition of Texture, the company is expected to launch a magazine and news subscription service within a year, according to Bloomberg

Apple plans to integrate the digital mag subscription app/service into Apple News and debut its own premium subscription offering, the article adds, quoting unnamed “people familiar with the matter.” The goal: offer a new, simplified subscription service covering multiple publications that can spur Apple News usage and generate new revenue in a similar manner to the $9.99 per month Apple Music offering. 

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Last month TechCrunch reported that Apple has bought Texture, acquiring the full company, including employees (although 20 of 100 workers have been let go since then). Texture, the “Netflix of magazines,” charges $9.99/month for access to 200 magazines. You can try it for seven days for free. Magazines offered include Entertainment Weekly, RollingStone, TIME, Reader’s Digest, Esquire, People, and Better Homes & Gardens.

Chances the rumor is true, according to the Sellers Research Group (that’s me): 100%. This will be a continued push by Apple to generate more revenue from online content and services.

Apple's services revenue is gleaned from iTunes, iCloud, Apple Music, Apple Pay, AppleCare and the various App Stores. And Credit Suisse research says Apple investors can expect the company to double revenue from its services segment by 2020.