Apple acquires digital magazine service Texture2018-03-13 17:10 by Daniela
Tags: Apple, Texture
Apple has acquired Texture, a digital magazine subscription service which gives users unlimited access to their favourite titles for a monthly fee for an undisclosed amount.
For Apple, Texture is a way to bolster its in-house content and service platform while also filling the gap left by Facebook's decision to back away from news distribution. Texture will integrate with Apple News and presumably improve upon the app's curation capabilities.
"We're excited Texture will join Apple, along with an impressive catalogue of magazines from many of the world's leading publishers," said Eddy Cue, Apple's senior vice-president of internet software and services. "We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users."
Texture was founded in 2010 and was formerly called Next Issue until it rebranded in 2015. It was chiefly founded and owned by a group of major magazine publishers, but it also raised $50 million from other investors. It launched during a time when the magazine industry harbored some optimism that the iPad and other tablets would be popular platforms for premium subscriptions as an alternative to the Web, which was dominated by tech companies like Google. As digital magazines like News Corporation's The Daily folded, it became clear that future wasn't panning out.
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