Apple was planning to bring the magazine to the digital world from a very long time but it was always ending with unimpressive results. However, the new news of Apple purchasing the digital magazine app may bring the digital magazine back to life.
Texture is digital magazine company which is almost similar to Netflix and they offer subscription to numerous publications for a monthly fee. Although Apple hasn’t made it clear that what are their future plans with the newly purchased digital marketing app but according to the expectations and speculations, it is being said that Apple will use this new platform for promoting quality journalism from trusted sources. You should also know that this purchase will give Apple, strong connection with the major publishers such as Hearst, Meredith, News Corp, etc. These connections can prove to be useful for Apple in future as it will make efforts to expand its reach.
The purchase was made on Monday and it was announced that Texture and its parent company Next Issue Media has been purchased by Apple for an undisclosed sum. The parent company Next Issue Media has almost 80 employees and has raised $50 million from investors like BuzzFeed, Vox Media and Imgur.
Apple already has a free news and magazine reader which is known as Apple News and it combines news articles from various sources and displays the in an easy to manage and read app. People can also buy individual subscriptions for specific magazine.
After purchasing Texture, now Apple will have a magazine subscription service to accompany its Apple music online streaming service as it continues to invest in software subscription offerings for amplifying its core business of selling Mac and computers.
The senior vice president of Apple said that ‘Apple is committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.”
“The Texture team and its current owners, Condé Nast, Hearst, Meredith, Rogers Media, and KKR, could not be more pleased or excited with this development,” said Next Issue Media John Loughlin said in a statement. “We could not imagine a better home or future for the service.”
This new acquisition will give Apple the opportunity highlight the company’s role as reliable new distributor and especially at a time when the American public is worried about the credibility of information from the technology giants.
Although the strategy of Apple as a news distributor will be completely different from its rival Google and Facebook as they are dependent on the software tools to decide which news are shown while apple uses a group of people in its Apple News platform. So the working of Apple with Texture will be an interesting thing to see.