Apple buys Texture, the 'Netflix of magazines'

Apple buys Texture, the 'Netflix of magazines'

Apple buys Texture, the 'Netflix of magazines'

Texture's magazine catalog includes Entertainment Weekly, Billboard, Vanity Fair, Vogue, as well as Bloomberg Businessweek.

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

Texture is owned by Next Issue Media, a joint venture formed by Condé Nast, Hearst Magazines, Meredith Corp, News Corp and Rogers Media. As reported by TechCrunch, the company has raised over $90 million in funding, including $50 million contributed by external publishers including BuzzFeed and Vox Media. The company's push into aggregated content with its Apple News service has unsettled publishers which prefer to connect with consumers through first-part channels.

Published via the Guardian News Feed plugin for WordPress. It's possible Apple will end up incorporating elements of Texture into an expanded News service.

That purchase prompted CNN's Dylan Byers to ask Cue, during his on-stage interview, if the acquisition of Texture meant that the company were willing to make an even bigger media deal - like buying Netflix or even Disney - to help build out its growing slate of original movie and TV content.

Apple announced on March 12 that it has acquired Texture for an undisclosed sum.

We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers.

Eddy added, "We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users". Apple hasn't commented on its plans for Texture. "We could not imagine a better home or future for the service".

The Texture app is available for iPad, iPhone, Android devices and Amazon Fire tablets.