Apple is reportedly readying a monthly subscription service for news

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Apple is planning to launch its own premium subscription magazine service as part of the Apple News app, a new report claims. Services revenue grew 23% to $30B in FY17, but execs have a goal of $50B by 2021. The service is said to be intended for launch within a year, placing the launch somewhere between the annual SXSW and WWDC events, if not sooner.

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.

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Apple already offers subscriptions through Apple News app on a publication-per-publication basis. Most of the Texture staff will be integrated into the Apple News team, according to Bloomberg.

The move has the potential to more than modestly alter the Apple News app, which now focuses nearly exclusively on providing free news to iOS users.

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Apple's services business is orders of magnitude smaller than its hardware business, but the company has had success with its Apple Music service, which now boasts almost 40 million subscribers. Sales from that segment grew 23 per cent to $30 billion in the company's 2017 fiscal year. Apple also gets services revenue from Apple Pay transactions, App Store downloads, iTunes music, movie, and TV show purchases, and digital book downloads. However, it's likely that the company will use its current Apple News relationships to its advantage, as well as those that Texture brought into the mix (titles available on Texture included People, Rolling Stone, National Geographic, Sports Illustrated, and others).

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