Hotline: 1800 102 2007
X
Search Business Opportunities
Mar, 13 2018

Apple Buys Texture To Extend magazine subscription service

Often described as a Netflix of magazines, Texture allows readers to read articles in more than 200 magazines for $10 per month, much like Netflix sells unlimited access to its video programming.

In a bid to extend its subscription services beyond music and online storage, Apple has purchased digital magazine distributor Texture, putting apple in control of the services.

Often described as a Netflix of magazines, Texture allows readers to read articles in more than 200 magazines for USD $10 per month, much like Netflix sells unlimited access to its video programming.

But Texture hasn't proven as popular as Netflix, which boasts 55 million subscribers in the U.S. alone. Texture hasn't specified how many subscribers it has, but CEO John Loughlin said in a 2016 interview that the number ranged in the "hundreds of thousands."

Apple didn't disclose how much it paid for Texture, which had raised at least $90 million since it was founded nearly a decade ago as Next Issue. The magazine distributor had been owned by investors that included Conde Nast, Hearst, Meredith, Rogers Media, and KKR.

Eddy Cue, Apple's senior vice president of internet software and services said, "We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.”

In addition to the iPhone and iPad, Texture will be available on devices powered by Google's Android software.

Texture will join a stable of Apple subscription options that are anchored by the company's music-screaming service, which has 36 million subscribers. Apple also sells additional storage in its iCloud service to customers who exceed the free limit of five gigabytes.

Comment
Related opportunities
  • Others Food Service
    About Us: What The Fork is an established brand in OMR,..
    Locations looking for expansion Tamil nadu
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater chennai Tamil nadu
  • Others Dealers And Distributors
    About Us: Mad About Dogs (MAD), an ambitious venture of Mad..
    Locations looking for expansion Delhi
    Establishment year 2006
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: The One And Only "MOC The American Restaurant" A perfect..
    Locations looking for expansion Delhi
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Non Banking Financial Company (NBFC)
    GOLDCASH LIMITED – A Premium Business Opportunity with Promising Returns.. About us: Go..
    Locations looking for expansion Odisha
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bhubaneswar Odisha
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities