Apple Acquires Digital Magazine Subscription Service Texture

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On the video service, Cue noted that Apple - despite analyst conjecture - isn't interested in buying great partners such as Netflix or Disney, since Apple prefers to buy small companies with ideas that will become the next big thing.

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.

It has its roots in a 2009 joint venture between Time Inc, Condé Nast, Meredith, Hearst, and News Corp and was launched in 2012 as Next Issue Media.

Texture charges $9.99/month to give readers access to 200 magazines. Most notably, he addressed the company's upcoming video service and the increasing importance of augmented reality (AR) to Apple.

The bridge between tech companies and journalism continues to narrow with Apple's latest purchase. The segment has been one of its fastest-growing across all its revenue streams; the services segment revenue grew 18 percent in the company's most recent quarter compared with the same period past year, only behind the "other devices" segment - which includes Apple Watch, AirPods, and Apple TV - at 36 percent.

Texture is available on both iOS and Android, and Apple says it won't take down its Android platform, according to Recode.

We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers.

Today Apple revealed that it is to acquire the digital magazine subscription service Texture.

Texture's Netflix-style model of subscription service feels like a ideal fit for future integration in Apple News.

You can download Texture from the App Store for free.