Eddy Cue explains Apple's original video content strategy

Pablo Tucker
March 12, 2018

Texture, offered via the app stores of Apple, Google and Amazon.com Inc., bolsters Apple's efforts in online services and media.

Texture charges $9.99/month to give readers access to 200 magazines.

Apple is to buy the digital magazine service Texture, which lets users read titles for a monthly subscription fee.

Texture's magazine catalog includes Entertainment Weekly, Billboard, Vanity Fair, Vogue, and Bloomberg Businessweek. The segment has been one of its fastest-growing across all its revenue streams; the services segment revenue grew 18 percent in the company's most recent quarter compared with the same period previous year, only behind the "other devices" segment - which includes Apple Watch, AirPods, and Apple TV - at 36 percent.

Texture is available on both iOS and Android, and Apple says it won't take down its Android platform, according to Recode.

Texture is owned by Next Issue Media, a joint-venture between Condé Nast, Hearst Magazines, Meredith Corp, News Corp and Rogers Media. Cue also made some comments regarding Apple's recent moves in original video content, where it's been acquiring a number of TV series from high-profile creators.

John Loughlin, CEO of Next Issue Media / Texture: "I'm thrilled that Next Issue Media, and its award-winning Texture app, are being acquired by Apple". When asked about Apple's plans for AR beyond the iPhone, Cue suggested hat his job security depended on not talking about future products - apparently the video service doesn't count - so he wouldn't answer questions about them. The Cupertino, California, company aims to top $50 billion in annual services revenue by 2021, and a magazine subscription service would likely contribute to that.

Other reports by iNewsToday