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Apple Buys Texture, the Netflix for Magazines
13 March 2018, 04:03 | Max Haynes
Apple Buys Texture, the Netflix for Magazines
Apple already sells digital magazine issues and subscriptions through its online services, and Amazon and Google each offer digital newsstands for magazines, too.
"We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers". Led by former Sony execs Jamie Erlicht and Zack Van Amburg, Apple has inked deals with Jennifer Aniston, Reese Witherspoon, and "La La Land" director Damien Chazelle. Texture is owned by Next Issue Media, a joint venture between prominent magazine publishers Conde Nast, Hearst, Meredith, News Corp, and Rogers Media. Texture will integrate with AppleNews and presumably improve upon the app's curation capabilities.
Apple - which lately has been plowing more aggressively into publishing with its Apple News app - announced the deal on Monday although it didn't disclose terms.
Cupertino is acquiring the makers of Texture, Next Issue Media, and all of its employees will be joining Apple going forward. Private equity firm KKR invested $50m in the company in 2015.
Texture is the "Netflix for magazines", bringing subscribers digital access to more than 200 of the world's top publications.
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Even so, Cue said not to expect Apple to make a purchase of big entertainment rivals like Netflix or Disney.
In late 2016, the Alliance for Audited Media (AAM) certified Texture to verify its circulation numbers for advertisers. Apple News provides iOS users personalized news and information from a variety of news organizations.
The service has evolved to feature curated content based on users interests, but the $10-a-month subscription model has remained in place.
Cue stayed evasive on specific plans for new content or enhancements to Apple TV.
As for Apple getting into the live sports broadcasting business, he said the company wasn't interested like Twitter, Facebook and other broadcasters, and instead was concentrating on creating a better user experience in sports programming.
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