Apple plans to introduce a subscription-based news service following its Texture acquisition.
(CCM) — Apple is preparing to give its online services division a shot in the arm by launching a beefed-up news subscription service, Bloomberg is reporting. The company's services division generated sales of $30 billion last year, and Apple is aiming to increase this to $50 billion within the next three years.
The plan is to integrate Texture — the magazine subscription app that Apple acquired last month — into Apple News, creating a premium subscription offering, according to the report.
Texture allowed users to subscribe to more than 200 magazines for $9.99 per month, and the new Apple News service is likely to offer something similar. It is anticipated to launch within the next twelve months, Bloomberg says.
Apple's Newsstand and News services offered magazine subscriptions on an individual basis, but the new News service would work more like the Apple Music streaming service. This offers millions of songs for $9.99 per month, and now has more than 40 million subscribers.
Apple Music was also built through an acquisition — the company bought Beats in 2014 for $3 billion and turned it into the streaming service it is today. Previously Apple only sold music on an individual track basis through iTunes for about 99 cents per track.
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