While we don't know precisely when this service will launch, we do know it'll land within the next year which indicates Apple may be gearing up to announce it at WWDC 2018 and launch it formally alongside iOS 12 this fall. Texture now offers access to over 200 magazines for $9.99 per month; pricing for the new service is uncertain.
In the past, Apple offered magazines and newspaper subscriptions through its former Newsstand app, and through Apple News, which replaced it.
Today, however, Apple takes a 15 percent cut on subscriptions sold in the App Store. Exactly what that ratio will be has not yet been revealed.
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But it's likely that Apple will approach the subscription service as Texture has, aggregating hundreds of magazines together in an all-you-can-read monthly service, rather than focusing on individual subscriptions. Services revenue grew 23% to $30B in FY17, but execs have a goal of $50B by 2021. The company bought Beats Music in 2014, shortly before debuting Apple Music with its $9.99-per-month paid tier. Texture had about 100 staff.
Which makes sense when you think about it. Apple already makes a decent slice of cash by selling music and video on iTunes, alongside subscriptions for Apple Music, so it makes sense that it would want to expand that to other areas. Now, Apple Music boasts more than 40 million subscribers.
While not all magazine publishers are focused on "news", those who do cover tech and Apple specifically, could become uncomfortable with also relying on Apple for subscription revenues. Still, it's unclear how Apple News will display magazine content, specifically whether articles will be shown in their PDF-like downloadable forms or forced to adapt to News's web-like scrollable and dynamically reformattable interface.