Apple Buys Texture Magazine Service in Subscription Push

  • Apple Buys Texture Magazine Service in Subscription Push

Apple Buys Texture Magazine Service in Subscription Push

Financial details of the deal remain undisclosed, and Texture has never disclosed its valuation.

"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, in a statement.

Moments after Apple announced the deal, Eddy Cue, Apple's senior vice president for internet software and services, said Apple News was introduced with the goal of bringing great content in a lovely layout from trusted sources, and Apple plans to integrate Texture content into Apple News, according to Apple news website 9to5mac.

Texture's magazine catalog includes Entertainment Weekly, Billboard, Vanity Fair, Vogue, as well as Bloomberg Businessweek.

Texture is owned by Next Issue Media, a joint-venture between the publishers Condé Nast, Hearst, Meredith, Rogers Media and private equity firm KKR.

Apple announced the impending acquisition in a news post this week. The company's push into aggregated content with its Apple News service has unsettled publishers which prefer to connect with consumers through first-part channels. READ NEXT:Google publishes new research into how neural networks "think" Apple's thought to be purchasing the app in an attempt to appease publishers and news organisations. The service bolsters Apple's efforts in online services and media.

Apple's decision to acquire Texture could significantly boost the service, which was reported to have 150,000 subscribers in 2014. Just a few months since then, Apple Music is now reporting a total of 38 million paying subscribers, and 8 million trial users. Apple and representatives from Texture didn't respond to requests for comment. The Texture app is available for iPad, and iPhone, Android devices, and Amazon Fire tablets.

"The opportunity here is about growth for us and growth for everyone", Cue said, adding that a huge gap exists between the number of people who can afford to pay for music services and those who do.