Apple buys 'Texture' Magazine Subscription App

Apple buys 'Texture' Magazine Subscription App

Apple buys 'Texture' Magazine Subscription App

Another source familiar with the matter said Apple had to renegotiate Texture's content deals because those deals were both with the magazine publishers that owned the startup as well as some publishers with no ownership stake. In 2016, Texture chief executive John Loughlin told the New York Post that it had "several hundreds of thousands" of revenue subscribers and expected a 50 percent growth in the coming year. Part of the goal of Apple News and acquiring Texture, he said, is to avoid "a lot of the issues" happening in the media today, such as the spread of inaccurate information on social media. Each issue is available in full but includes special formatting to improve its in-app presentation.

The Texture deal signals Apple's latest move to develop content-related services and platforms. The transaction included an upfront payment, as well as significant licensing fees to publishers, the person also said.

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He also worked in a plug about Rihanna's recent passing of the 2 billion-stream mark on Apple Music, which was heavily touted over the weekend.

Apple announced on March 12 that it has acquired Texture for an undisclosed sum.

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The Senior VP of Internet Software and Services shrugged off the question: Cue said that Disney and Netflix were "good partners" but that if you look at the "general history of Apple, we never make huge acquisitions". We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.

Texture, offered via the app stores of Apple, Google and Amazon, lets users subscribe to more than 200 magazines for $9.99 a month. Apple hasn't commented on its plans for Texture. Once the acquisition completes, Apple will purchase the service and its employees.

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