Bloomberg: Apple planning Texture-based news subscription

|About: Apple Inc. (AAPL)|By:, SA News Editor

Apple (NASDAQ:AAPL) plans to launch a news subscription service, according to Bloomberg sources.

The service will come from integrating the acquired magazine app Texture into Apple News to boost services sales. Services revenue grew 23% to $30B in FY17, but execs have a goal of $50B by 2021.   

Apple’s previous Newsstand app and current News offer magazines and newspapers but only as individual subscriptions. Texture offers over 200 magazines for a $9.99/month subscription. 

The new Texture-News hybrid could launch in the next year.    

Apple shares are up 0.5% to $176.72. 

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