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Apple to Launch Subscription News Service

17 April, 2018, 20:22 | Author: Janis Wilson
  • Apple Will Reportedly Launch a Paid News Subscription Service in the Next Year

Apple (NASDAQ:AAPL) plans to launch a news subscription service, according to Bloomberg sources. A part of the money will directly go to the publishers of Texture and this is how the giant will distribute the revenues earned through this new Apple News portal. They asked not to be identified discussing private plans. With smartphone sales suffering a small decline in shipments a year ago, the first time that has happened, Apple is looking to expand its services revenue. The service will reportedly be integrated in the updated version of the Apple News app, which is believed to launch sometime in 2019. When Apple News started in 2015, it took a similar approach.

Apple's services business is orders of magnitude smaller than its hardware business, but the company has had success with its Apple Music service, which now boasts almost 40 million subscribers. This offers millions of songs for $9.99 per month, and now has more than 40 million subscribers.

Apple needs successes like that to meet a bold target for its services division. Apple has said that it is targeting annual service revenue of $50 billion by 2021.

More news: Possible 'high impact' storm for weekend in SD&G

Paid subscriptions already play a huge part in Apple's ecosystem. The company could also choose to turn its original video content efforts into its own Netflix-like video subscription service.

Apple shares took a hit in late March, falling as much as 10.4%, along with many other companies listed on the tech-heavy Nasdaq, after Facebook's Cambridge Analytica data scandal and President Donald Trump's crackdown on Chinese investment in U.S. technology rattled investors. The staff was made up of about 100 people before Apple bought it, but Bloomberg points out that Apple also laid off 200 people when it picked up Beats in 2014. However, it's likely that the company will use its current Apple News relationships to its advantage, as well as those that Texture brought into the mix (titles available on Texture included People, Rolling Stone, National Geographic, Sports Illustrated, and others).

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