"We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers", Eddy Cue, Apple's senior vice president of Internet Software and Services, said in a statement. Further, John added, "The Texture team and its current owners, Condé Nast, Hearst, Meredith, Rogers Media and KKR, could not be more pleased or excited about this development".
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"If you look at the number of subscribers Spotify and Apple Music have together versus the number of people listening to music around the world, or even the amount of traffic to our App Store - we have half a billion people visiting the App Store every week - music is just "this big" in the scheme of things", said Cue. It replaced that with the more comprehensive Apple News service a couple of years ago. It's possible Apple will end up incorporating elements of Texture into an expanded News service.
Texture will join a stable of Apple subscription options that are anchored by the company's music-screaming service, which has 36 million subscribers.
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Apple has bought digital magazine distributor Texture to extend its subscription services beyond music and online storage. Apple hasn't commented on its plans for Texture.
The app Texture is often called 'the Netflix of magazine subscriptions, ' allowing users to read publications from all across the country for a low-priced monthly fee.
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The Texture app is available for iPad, iPhone, Android devices and Amazon Fire tablets. The service will continue to operate as an independent app for the foreseeable future. Once the acquisition completes, Apple will purchase the service and its employees.