Apple plans to launch the Apple Music of magazines

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If Apple goes through with these plans, it would be treating news similarly to how it treated music around the creation of Apple Music.

Just over a month after Apple acquired digital magazine app Texture, Bloomberg reports that the company is planning to integrate the service into Apple News and launch its own premium news subscription service.

The new Texture-News hybrid could launch in the next year.

With this new all-you-can-consume model, it would help make things more affordable and could spur more signups.

Apple executives have said they plan to hit a target of $50 billion in services revenue by 2021. Before News, Apple had had Newsstand, which was essentially a market for purchasing subscriptions to individual magazines and newspapers.

Texture gave users the opportunity to subscribe to over 200 magazines for a $9.99 monthly fee. Back in 2014, the company bought Beats and the Beats Music service that had less than a million subscribers at the time. Texture had about 100 staff. Since then, the company has turned the service into Apple Music and now has over 40 million paid users on the platform. Sales from that segment grew 23 per cent to $30 billion in the company's 2017 fiscal year.

Apple will likely carefully curate the partner organizations for its news service.

The Bloomberg report also notes that Apple laid off about 20 Texture staffers soon after the acquisition in March. It's clear the company is looking for the same success story with its upcoming news subscription.

There will be some sort of revenue split between Apple and the publishers who will be featured in the service, but there's no details on that.

The Apple News subscription could look a lot like Apple's streaming music service, Apple Music.

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