Apple to launch a news subscription service, report says

Apple to launch a news subscription service, report says

At the time, Beats Music had fewer than a million subscribers, and Apple has turned that into more than 40 million paying users.

Integrating the current Apple News app and recently acquired Texture service, the new Apple news subscription service would give magazine publishers a slice of the revenue. Some analysts in the past have suggested that Apple should look into getting into a more subscription-like business model, and this certainly sounds like what Apple could be doing. The report also says an updated Apple News app with the subscription built-in will land within the next year, with a portion of all revenue going to participating publishers. While you can already purchase subscriptions through the Apple News app, which no doubt earns Apple some money, selling individual issues or subscriptions isn't quite the same as offering people a huge bundle of content in exchange for a single monthly fee.

According to the report, Apple laid off around 20 of Texture's 100 employees shortly after the acquisition, but integrated the remaining people into its Apple News team.

More news: Bryce Harper hits broken-bat home run off of Jacob deGrom

Texture lets users subscribe to more than 200 magazines for United States dollars 9.99 a month. The company bought Beats Music in 2014, shortly before debuting Apple Music with its $9.99-per-month paid tier.

Apple Music is an initiative that seems to be working out pretty well, so naturally, word on the street is that Apple is now considering other subscription services. Sales from that segment grew 23 per cent to $30 billion in the company's 2017 fiscal year. It's clear the company is looking for the same success story with its upcoming news subscription.

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