Apple Acquires Digital Magazine Subscription Service Texture

Apple Senior Vice President Eddy Cue who runs its media business    
   Asa Mathat

More notable is the connection this gives Apple to major publishers such as Conde Nast, Hearst, Meredith, and News Corp which may pay off in the future as Apple makes efforts to expand their reach.

The Texture application launched in 2012, the product of a joint venture created two years earlier.

TechCrunch pointed us to a series of tweets from writer Alex Heath, who was in attendance when Eddie Cue, the aforementioned SVP of Internet Software and Services, spoke to the crowd. Zinio for Libraries has since merged with RBdigital, from the Recorded Books company, and you'll need a new app.

Users can read magazines on up to five devices in a single subscription.

The magazine world hasn't been terribly healthy of late, with numerous publications dropping their expensive print magazines in favor of their online versions.

Earlier in the day, Apple announced it is acquiring Texture, a digital magazine subscription service known as the "Netflix for magazines". Details of how much Apple is buying Texture for remain undisclosed.

It's possible that at some point, Apple may integrate aspects of Texture into its News app. Cue adds that Apple is new in the area, and so not everything will be a hit, at least not right away.

Here's a list of all the magazines now in Texture's catalog.

The traditional publishing industry has taken a beating in recent years, but it just received a vote of confidence from Apple Inc.

Cue said that Apple's historical pattern has not been to buy up big companies, like Netflix and Disney, in response to a question about those media giants as potential acquisition targets, per Cheddar's Alex Heath on Twitter. The company has been heavily focused on growing its services business, highlighting how many paid subscriptions it has on its platforms that generate high-margin, recurring revenue. In Cue's statement, it's clear Apple cares about quality journalism from "trusted sources", so it looks like the company will be making a push in the fake news arguments that rose during the 2016 Presidential election.

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