Apple announced currently that it sealed an agreement to acquire the digital repository service Texture, which serves articles from some-more than 200 magazines digitally on iOS, Windows, Amazon, and Android inclination for a prosaic monthly fee.
Apple has acquired the whole company, including staff, and has positive users that the Android chronicle of the app will still be supported. The cost of the merger was not disclosed.
Texture was founded in 2010 and was before called Next Issue until it rebranded in 2015. It was customarily founded and owned by a organisation of major repository publishers, but it also lifted $50 million from other investors. It launched during a time when the repository attention harbored some confidence that the iPad and other tablets would be renouned platforms for reward subscriptions as an choice to the Web, which was dominated by tech companies like Google. As digital magazines like News Corporation’s The Daily folded, it became transparent that future wasn’t panning out.
Nevertheless, a 2016 report from The New York Post quoted Texture CEO John Loughlin observant that the service had “hundreds of thousands” of subscribers at that time.
Apple has done a few identical acquisitions in the past. It acquired Beats in 2014, which enclosed not only the company’s hardware but its streaming music service, which eventually led to Apple Music. Also in 2014, Apple acquired BookLamp, a service that distributed books in much the same way that Texture distributes magazines. In this case, though, we don’t know what Apple has designed for Texture in the future.
Here’s the matter offering by Apple SVP Eddy Cue:
We’re vehement Texture will join Apple, along with an considerable catalog of magazines from many of the world’s heading publishers. We are committed to peculiarity broadcasting from devoted sources and permitting magazines to keep producing beautifully designed and enchanting stories for users.
And the matter from Loughlin:
I’m anxious that Next Issue Media and its award-winning Texture app are being acquired by Apple. The Texture group and its stream owners, Condé Nast, Hearst, Meredith, Rogers Media, and KKR, could not be some-more gratified or vehement with this development. We could not suppose a better home or future for the service.
Apple already sells digital repository issues and subscriptions by its online services, and Amazon and Google any offer digital newsstands for magazines, too. Even Facebook has tested digital news subscriptions.
Neither of the executive quotes enclosed with Apple’s proclamation gives any decisive hints as to what Apple plans to do with the service after the acquisition. Cue’s choice of difference in “trusted sources” may be relevant, though, as the merger comes at a time when reporters and publishers have been outspoken with critique of other tech companies that have played a prejudiced in distributing or curating the created word, like Google and Facebook, and open regard has focused on the placement of strange calm on those companies’ platforms.
Disclaimer: Ars Technica is owned by Condé Nast, which was a prejudiced owners of Texture before to the acquisition.