In a reporting by Bloomberg, Apple is set to launch its own magazine subscription service via its Apple News app. Back in spring, Apple had made a business deal to acquire Texture, a virtual newsstand, and now plans to utilize it for its own news application as a premium product.
According to Bloomberg’s report, Apple has been speaking with The Wall Street Journal and The New York Times in striking a deal for the news sources to join its subscription service launch. Publishers are facing the offer with unease, as Apple intends to offer its users a $9.99/month plan for access to all its acquired magazine resources, ultimately stripping away the publishers’ sources of revenue from its own subscription plans. Instead of Apple incorporating all magazines with its own subscription plan, publishers favor a more fair system to which each can implement its own paywall.
In a counterargument through their negotiation, Apple suggested that all revenue made from its news app subscriptions will counteract lost revenue that would have otherwise been generated through publishers’ own paywalling means.
“Texture today offers access to more than 200 magazines, including Vanity Fair, EW, GQ, Vogue, Forbes, Time, People, Rolling Stone, Cosmopolitan, Sports Illustrated and many others, including Bloomberg Businessweek,” TechCrunch writer Sarah Perez reports.
We have yet to see if The New York Times and The Wall Street Journal are to join Apple’s upgraded news app launch, set to arrive by early next year.