Apple is reportedly planning to launch its own premium news subscription service. The services segment was the second-fastest-growing category for Apple in its latest earnings report in February; it grew 18 percent in the company's 2018 first quarter compared with the same period a year earlier. It is only available in three markets: US, the United Kingdom and Australia. Apple acquired Texture just last month and apparently has already let twenty employees go as they work to assimilate the company. Today's report states that similar to Texture, the revised Apple News will charge one monthly price that will allow subscribers to read any of the magazines and newspapers available for perusal.
This ties into expectations of an upgraded Apple News experience within the next year and Apple's lofty goal of increasing profits of its services division by 60% by 2021. At the time, Beats Music had fewer than a million subscribers, and Apple has turned that into more than 40 million paying users. This approach would set it apart from Apple's previous Newsstand app, which gave users access to magazine subscriptions on an individual basis. The company bought Beats Music in 2014, shortly before debuting Apple Music with its $9.99-per-month paid tier. Texture previously had about 100 staff members.
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It's worth noting Apple is no stranger to buying out services and turning them into subscriptions people actually want to use.
Apple has had limited success with its news services applications. "We want the best articles, we want them to look fantastic, and we want them to be from trusted sources.so we don't have a lot of the issues going around", Cue said, likely alluding to the issues that Facebook and Google have had to deal with surrounding unverified news stories populating users' feeds. After the acquisition, 20 people were made redundant while the rest of the team was part of Apple News.
The move has the potential to more than modestly alter the Apple News app, which now focuses nearly exclusively on providing free news to iOS users.