Apple buys digital magazine subscription service Texture

Eddy Cue was scheduled to go onstage at SXSW in Austin, Texas, today to discuss Apple's media ambitions.

Apple on Monday bought Texture, a media aggregation app that now allows access to a wide range of publications for a monthly fee of $10 a month.

The interview is scheduled to start any moment now, so stay tuned for updates! According to Apple, with Texture, "users enjoy the magazines they know and love while discovering new content that fits their passions and interests". At that point, we should have more information both as to the intentions of the company with the service as well as the future of the application as it now stands. For the fiscal year ended September 2017, Apple posted nearly $30 billion in services revenue, comprised of business such as music streaming and mobile payments.

"Generally the history of Apple - we have not made huge acquisitions", said Cue, before referencing Wayne Gretzky's "skate to where the puck is going, not where it is" line.

"The financial part ... isn't the issue", Cue said. Terms of the deal have not been disclosed as of yet.

While the other two tech giants rely heavily on artificial intelligence to monitor the spread of fabricated or hoax news stories on their platforms, Apple relies on a small US editorial team to curate the contents of its news app that comes pre-loaded on Apple's smartphones.

It's no secret Apple isn't short on funds.

That puck is headed towards traditional long-form shows for Apple, rather than short-form content, said Cue.

The focus for Apple will be on telling great stories with its video programming, which is why the company is committing to longer-form videos.

Speaking of music, Cue said that Apple is pleased with initial sales of the HomePod that arrived in February. "There are ways to leverage the technology to make the viewing experience even better". The company's subsidiaries may use it to keep you informed of relevant products and services.

  • Essie Rivera