Apple to buy digital magazine service Texture

Alfred Osborne
March 12, 2018

Apple SVP of Internet Software and Services Eddie Cue appeared on stage at SXSW on Monday, and discussed a range of topics, including their just-announced acquisition of magazine app Texture. The service allows users to access their favorite titles for a monthly subscription fee.

Cue admitted that Apple is now "making big investments" financially speaking in original content, adding that spending cash "isn't an issue" for the tech company, which is sitting on one of the largest available cash piles of any company in the world. Nonetheless, we will keep you guys updated on the scenario. Details of how much Apple is buying Texture for remain undisclosed.

"We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers", said Eddy Cue, Apple's senior vice president of Internet Software & Services, in a statement. Texture costs $9.99 a month and offers access to magazines including The New Yorker, People, Time, and GQ. 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. In addition to this, users would also have the ability to download magazines for offline reading.

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Texture is owned by Next Issue Media, a joint-venture between the publishers Condé Nast, Hearst, Meredith, Rogers Media and private equity firm KKR. When asked about Apple's plans for AR beyond the iPhone, Cue suggested hat his job security depended on not talking about future products - apparently the video service doesn't count - so he wouldn't answer questions about them.

Texture's magazine catalog includes Entertainment Weekly, Billboard, Vanity Fair, Vogue, and Bloomberg Businessweek. So be sure to check it out.

This is all for now, folks. Cupertino is acquiring the makers of Texture, Next Issue Media, and all of its employees will be joining Apple going forward. Share your views with us in the comment.

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