Apple has decided to buy the digital magazine service, Texture, after the company signed an agreement with the digital magazine subscription service by Next Issue Media LLC. The agreement allows the newly subscribed users to get an unlimited access to their favorite titles.
The firm owned by Next Issue Media is a joint venture among Conde Nast, Hearst Magazines, Meredith Corp, News Corp and Rogers Media. Apple has not revealed the financial terms of the deal. The main consideration for this deal is to boost the revenue from the services that Apple has acquired from.
The Texture brings more than 200 of the world's best magazines to life giving a simple method to clients to study some astounding stories and whole issues of their most loved titles. With Texture, clients appreciate the magazines they know and love while finding new topics that fit their interests.
Since its introduction in 2010, Texture has turned into the main package allowing the clients to immediately get the most broadly read magazines in a quick period of time. In 2016, Texture was picked by the App Store article group for the year’s best choices and was considered the most inventive applications and diversions for iOS clients.
Apple has set a goal of increasing total revenue from services to more than $40 billion by 2020. The company generated nearly $30 billion in services revenue in its financial year that ended in September.