Texture, recently acquired by Apple, is an online magazine subscription service that offers access to over 200 magazines for $9.99/month. Apple has kept the service running after its acquisition but cut around 20 staff.
The world’s largest technology company is integrating Texture technology and the remaining employees into its Apple News team, which is building the premium service. An upgraded Apple News app with the subscription offering is expected to launch within the next year, and a slice of the subscription revenue will go to magazine publishers that are part of the program, the people said. They asked not to be identified discussing private plans. Apple declined to comment.
It's thought that a new, simplified subscription service could boost Apple News usage and create a new revenue stream similar to Apple Music.
More details in the full report linked below.