Apple Acquires Texture, a Digital Magazine Subscription Service

Customers view an Apple Inc. iPad Pro tablet at the company's Williamsburg store in the Brooklyn borough of New York

Details of how much Apple is buying Texture for remain undisclosed. Texture is owned by Condé Nast, Hearst, Meredith, News Corp., Rogers Communications, and Time Inc, which founded the app and Next Issue Media as an effort to monetize digital media.

The "virtual newsstand" gives readers online access to current and back issues of about 200 titles, including Rolling Stone, Vanity Fair, Vogue and Cosmopolitan, for a monthly fee of $9.99 (£7.19).

Immediately after Apple publicly announced its acquisition of magazine subscription service Texture this morning, the company's senior vice president of internet software and services Eddy Cue took the stage at SXSW 2018 to discuss some of Apple's upcoming content plans. Cue mentioned a new PGA Tour AR golf app for iOS which enables any large table surface to hold a virtual golf course that can be moved around using your iPhone or iPad as a lens.

There is no word on what Apple intends to do with the purchase. The segment has been one of its fastest-growing across all its revenue streams; the services segment revenue grew 18 percent in the company's most recent quarter compared with the same period previous year, only behind the "other devices" segment - which includes Apple Watch, AirPods, and Apple TV - at 36 percent.

Today Apple revealed that it is to acquire the digital magazine subscription service Texture.

Apple's Eddy Cue confirms the buy in a statement (via TechCrunch): "We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers".

Neither Apple nor Texture is disclosing the exact amount of the deal, or what Apple plans to do with Next Issue Media's talent. "We could not imagine a better home or future for the service".

You can download Texture from the App Store for free.



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