Apple Reportedly Planning To Launch News Subscription Service In 2019

Texture app

Currently, the magazine subscription service allows customers access to over 200 magazines for $9.99 per month for monthly magazines, or $14.99 for premium access to weekly publications.

Following its acquisition of all-you-can-read magazine service Texture in March, Apple is planning to launch a news subscription service, Bloomberg reports today.

People familiar with the plans tell Bloomberg that Texture's technology and remaining employees have been merged with the Apple News team, which is heading up the production of the new service. Now, Bloomberg believes that Apple is preparing to launch a new Apple News app over the next year or so.

Apple shares are up 0.5% to $176.72. It is only available in three markets: US, the United Kingdom and Australia.

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Apple bought Texture last month. It's thought that a new, simplified subscription service could boost Apple News usage and create a new revenue stream similar to Apple Music. Previously Apple only sold music on an individual track basis through iTunes for about 99 cents per track. Beats Music, with its fewer than one million subscribers, shut down not long after Apple Music came out.

You might pay Apple every month for music or iCloud storage, but would you pay it for news?

This ties into expectations of an upgraded Apple News experience within the next year and Apple's lofty goal of increasing profits of its services division by 60% by 2021.

Launching a news subscription service seems to be right up the company's alley and it could turn Apple News into the new "Netflix for magazines". 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. "We want the best articles, we want them to look incredible, and we want them to be from trusted sources.so we don't have a lot of the issues going around", Cue said, likely alluding to the issues that Facebook and Google have had to deal with surrounding unverified news stories populating users' feeds.

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