Apple announces plans to acquire digital magazine service Texture

Apple didn't say how much it would pay for Texture which includes gives users access to 200 magazines for one monthly

Immediately after Apple publicly announced its acquisition of magazine subscription service Texture this morning, the company's senior vice president of internet software and services Eddy Cue took the stage at SXSW 2018 to discuss some of Apple's upcoming content plans.

"We're excited Texture will join Apple, along with an impressive catalogue of magazines from numerous world's leading publishers", said Eddy Cue, Apple's senior vice-president of internet software and services. Texture is owned by Condé Nast, Hearst, Meredith, News Corp., Rogers Communications, and Time Inc, which founded the app and Next Issue Media as an effort to monetize digital media.

Texture is the "Netflix for magazines", bringing subscribers digital access to more than 200 of the world's top publications. With Texture's existing catalog as a starting base, Apple could also be in the market for additional acquisition targets that would serve to beef up a future News-related service before its launch.

While Cue said Apple won't be purchasing Netflix (it could if it wanted: Apple is worth over $910bn and Netflix is $25bn in debt), the tech giant recently hired two executives for its grand TV strategy and now has a team of 40 people both based in the United States and overseas. Texture will continue to offer iOS, Android, Amazon Kindle Fire, and Windows 10 apps. He oversees both iTunes and Apple Pay, and services including Apple News.

More news: Michael Carrick Announces Retirement To Make Move Into Coaching

We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers. "The Texture team and its current owners could not be more pleased or excited with this development".

"I'm thrilled that Next Issue Media, and its award-winning Texture app, are being acquired by Apple", said John Loughlin, CEO of Next Issue Media / Texture, in a statement.

You can download Texture from the App Store for free.

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

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