Apple to Launch Subscription News Service

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Despite its reputation as a company that rarely acquires other companies, Apple has made other media-related purchases.

But it's likely that Apple will approach the subscription service as Texture has, aggregating hundreds of magazines together in an all-you-can-read monthly service, rather than focusing on individual subscriptions. Now, Bloomberg believes that Apple is preparing to launch a new Apple News app over the next year or so.

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Apple did not respond to request a comment on the report. There is speculation that Apple will keep Texture's $9.99/month pricing for the revised Apple News subscription service.

Apple is planning some paid news thing, according to Bloomberg report - though it's unclear if that'll simply be a rebrand of the Texture digital magazine subscription service that Apple acquired in March, or something that includes news sources beyond magazines. At the time, Beats Music had fewer than a million subscribers, and Apple has turned that into more than 40 million paying users.

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A new, simplified subscription service covering multiple publications could spur Apple News usage and generate new revenue in a similar manner to the $9.99 per month Apple Music offering.

Now costing $9.99 a month, the service will eventually be managed by Apple's own news team. The company's services division generated sales of $30 billion last year, and Apple is aiming to increase this to $50 billion within the next three years.

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Apple shares took a hit in late March, falling as much as 10.4%, along with many other companies listed on the tech-heavy Nasdaq, after Facebook's Cambridge Analytica data scandal and President Donald Trump's crackdown on Chinese investment in United States technology rattled investors. Apple also gets a 15 percent cut from the subscription revenues that are being sold by third-party apps through the App Store, as pointed out by TechCrunch. The company could also choose to turn its original video content efforts into its own Netflix-like video subscription service. Texture had about 100 staff.

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