Apple Could Be Considering Launching News Subscription Service

Apple Could Be Considering Launching News Subscription Service

If Apple goes through with these plans, it would be treating news similarly to how it treated music around the creation of Apple Music.

Apple (NASDAQ:AAPL) plans to launch a news subscription service, according to Bloomberg sources.

Apple's previous Newsstand app and current News offer magazines and newspapers but only as individual subscriptions.

With this new all-you-can-consume model, it would help make things more affordable and could spur more signups.

Apple did not respond to request a comment on the report. That would involve a premium "News" subscription added to the existing app, similar to how Apple Music's subscription is inside the standard Music app.

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Apple needs successes like that to meet a bold target for its services division. These plans are created to help Apple boost its services business to meet revenue goals the company has set for itself over the next few years. Sales from that segment grew 23 percent to $30 billion in the company's 2017 fiscal year. During a recent earnings conference call, Apple told analysts it had a total of 240 million paid subscriptions, with 58 percent year-over-year growth.

Apple will likely carefully curate the partner organizations for its news service. Beats Music, with its fewer than one million subscribers, shut down not long after Apple Music came out. The company could also choose to turn its original video content efforts into its own Netflix-like video subscription service.

Apple bought Texture last month. Apple rarely cuts positions, but after the company acquired Beats, it released about 200 people.

The Bloomberg report also notes that Apple laid off about 20 Texture staffers soon after the acquisition in March. Texture had about 100 staff.

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