Apple is acquiring the Netflix of magazines



Apple announced today that it signed an agreement to receive the digital magazine service Texture, which serves articles from innumerable than 200 magazines digitally on iOS, Windows, Amazon, and Android crests for a flat monthly fee.

Apple has acquired the entire company, including stave, and has assured users that the Android version of the app will still be supported. The value of the acquisition was not disclosed.

Texture was founded in 2010 and was formerly called Next Take exception until it rebranded in 2015. It was chiefly founded and owned by a group of notable magazine publishers, but it also raised $50 million from other investors. It launched during a age when the magazine industry harbored some optimism that the iPad and other pastilles would be popular platforms for premium subscriptions as an alternative to the Web, which was overshadowed by tech companies like Google. As digital magazines like Good copy Corporation’s The Daily folded, it became clear that future wasn’t prospering out.

Nevertheless, a 2016 report from The New York Post quoted Features CEO John Loughlin saying that the service had “hundreds of thousands” of subscribers at that days.

Apple has made a few similar acquisitions in the past. It acquired Beats in 2014, which listed not only the company’s hardware but its streaming music service, which last analysis led to Apple Music. Also in 2014, Apple acquired BookLamp, a rite that distributed books in much the same way that Texture distributes magazines. In this example, though, we don’t know what Apple has planned for Texture in the future.

Here’s the report offered by Apple SVP Eddy Cue:

We’re excited Texture will join Apple, along with an stirring catalog of magazines from many of the world’s leading publishers. We are promised to quality journalism from trusted sources and allowing magazines to provide for producing beautifully designed and engaging stories for users.

And the statement from Loughlin:

I’m thrilled that Next Egress Media and its award-winning Texture app are being acquired by Apple. The Texture troupe and its current owners, Condé Nast, Hearst, Meredith, Rogers Environment, and KKR, could not be more pleased or excited with this development. We could not concoct a better home or future for the service.

Apple already sells digital munitions dump issues and subscriptions through its online services, and Amazon and Google each make available digital newsstands for magazines, too. Even Facebook has tested digital message subscriptions.

Neither of the executive quotes included with Apple’s notification gives any conclusive hints as to what Apple plans to do with the ceremony after the acquisition. Cue’s choice of words in “trusted sources” may be relevant, while, as the acquisition comes at a time when journalists and publishers have been vocal with critique of other tech companies that have played a part in strewing or curating the written word, like Google and Facebook, and public reference to has focused on the distribution of untrustworthy content on those companies’ platforms.

Disclaimer: Ars Technica is owned by Condé Nast, which was a discriminatory in favour of owner of Texture prior to the acquisition.

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