Apple buys digital magazine subscription service Texture

Image Credit Apple

The service, which launched under the name Next Issue in 2010, allows subscribers to read dozens of magazines on their tablet for one monthly price, typically $9.99 in most markets.

"We wanted to bring trusted sources to users in a lovely layout", Cue said, according to Sara Fischer, a reporter for the news website Axios.

Apple shares ended the US Monday trading session in the green, as the tech innovator announced it has agreed to purchase online magazine subscription service, Texture. The firm is collectively owned by media giants Condé Nast, Hearst, Meredith, Rogers Media and KKR. At that point, we should have more information both as to the intentions of the company with the service as well as the future of the application as it now stands.

The California-based technology giant didn't say how much it will pay to acquire Texture from Next Issue Media LLC, which has offices in Menlo Park, Calif., and NY.

Texture, formerly known as Next Issue Media, was a venture by magazine publishers to compete in the smartphone age. What are your thoughts on Apple acquiring Digital Magazine Service Texture?

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Texture offers 200 magazines digitally in its app for a $10-a-month subscription.

Apple is focused less on quantity and more on quality in its bid to create subscription-based, streaming video content, according to Apple's senior vice president, Eddy Cue.

Apple makes moves towards curated content with its latest acquisition. It's not clear exactly what Apple - which has dabbled itself in apps that re-present newspaper and magazine content with Newstand and now the News app - plans to do with its new acquisition. Apple has already shown it's a fan of the service after it gave the Texture App a "Best of" award in 2016.

In a statement published by Apple, the company shared comments from the CEO of Next Issue Media/Texture, John Loughlin.

He acknowledged, however, that Apple's involvement could boost interest in the eight-year-old service, which in turn would help publishers earn more money.

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