Apple may debut its own news subscription service within the next year
Apple's ambitions for Texture, the "Netflix of magazines" app that it acquired last month, are slowly coming into the light. According to a Bloomberg report, Apple plans on integrating the Texture magazine app into Apple News and debuting its own "premium subscription" within the next year. These plans are designed to help Apple boost its services business to meet revenue goals the company has set for itself over the next few years.
Texture gave users the opportunity to subscribe to over 200 magazines for a $9.99 monthly fee. Apple may take the same approach as it's looking to allow users to subscribe to its own premium news subscription service from within an upgraded Apple News app. This approach would set it apart from Apple's previous Newsstand app, which gave users access to magazine subscriptions on an individual basis.
The news of this forthcoming subscription service comes after Apple cut 20 people from the Texture team after the acquisition. Texture previously had about 100 staff members.