The Cupertino, California, company aims to top $50 billion in annual services revenue by 2021, and a magazine subscription service would likely contribute to that.
Texture launched back in 2010, and is now owned by Condé Nast, Hearst, Meredith, Rogers Media and KKR. It's not clear if Apple will charge users to access these magazines, as Texture now charges $9.99 a month for the service.
Immediately after Apple publicly announced its acquisition of magazine subscription service Texture this morning, the company's senior vice president of internet software and services Eddy Cue took the stage at SXSW 2018 to discuss some of Apple's upcoming content plans.
Users can read magazines on up to five devices in a single subscription.
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There is no word on what Apple intends to do with the purchase.
It's unclear how Apple will integrate the service or what it means for Apple News. "We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users". Most notably, he addressed the company's upcoming video service and the increasing importance of augmented reality (AR) to Apple.
Texture's Netflix-style model of subscription service feels like a ideal fit for future integration in Apple News. Texture's apps for iOS, Android, and Windows 10/8 (yes) will continue to work - at least for the time being.
"I'm thrilled that Next Issue Media, and its award-winning Texture app, are being acquired by Apple", said John Loughlin, CEO of Next Issue Media / Texture. Cue should know, the exec is in his 30th year with Apple and helped create the iTunes and App Stores.