Saturday, 26 May, 2018

Apple announces plans to acquire digital magazine service Texture

Live Blog: Eddy Cue at SXSW 2018 Apple's Eddy Cue talks Texture buy and 'trusted news sources'
Isabel Fisher | 13 March, 2018, 11:18

Apple has bought digital magazine distributor Texture to extend its subscription services beyond music and online storage.

Its other founding partners include Time Inc., News Corp., Hearst, and Conde Nast, which publishes Vanity Fair, Vogue and other titles.

Julio Ojeda-Zapata mentioned Texture briefly previous year in "Lightening the Vacation Tech Load" (14 May 2017) as a way of bringing magazines to read while traveling.

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. The company and its current owners "could not be more pleased or excited with this development", said John Loughlin, chief executive officer of Next Issue Media/Texture.


The Apple exec added that his company's original content ambitions face "fewer hurdles than those from rivals", including Facebook and Google, because it's not an advertising-based business. Having either of those companies' infrastructures in place would be a great way for Apple to get its content out into the world, but are they actually interested in spending that kind of money to make such a huge power move in the industry?

When the "Curation in Media" session was going on at SXSW 2018, there wasn't much to talk about in terms of what Eddy Cue could reveal with what's going on at Apple. Apple hasn't come forward with what their intentions are with the purchase of Texture, but has since stated that the deal is in order to promote "quality journalism from trusted sources". Cue says it depends on what trusted publications you follow, but Apple News wants to show you more than what is most popular or what fits your viewpoint.

Cue confirms that Apple just acquired Texture for integration in Apple News. While drawing comparisons between Apple's approach to content and Pixar's, Cue noted that his company's main focus is on quality storytelling. For the fiscal year ended September 2017, Apple posted nearly $30 billion in services revenue, comprised of business such as music streaming and mobile payments.

We'll let you know when video of the interview is available for viewing.

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