Apple is thought to be preparing to launch its own premium news service, according to a new report from Bloomberg.
Last month, the tech giant acquired digital magazine subscription service Texture for an undisclosed sum. It consists of more than 200 popular and niche publications.
The service, which is known as the “Netflix of magazines”, gives customers access to magazines spanning an array of topics and genres for a monthly sum. It was previously owned by Next Issue media.
At the time, Eddy Cue – senior vice president of internet software and services at Apple – confirmed that the two firms had come to an agreement.
“We’re excited Texture will join Apple, along with an impressive catalog of magazines from many of the world’s leading publishers,” he said.
“We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users.”
Currently costing $9.99 a month, the service will eventually be managed by Apple’s own news team. Now, Bloomberg believes that Apple is preparing to launch a new Apple News app over the next year or so.
The company will likely merge Texture’s library of magazines into one app. The details of the service are pretty scarce, but Apple will reportedly dish out a slice of revenue to publishers that buy into the service.
It’s not known how much of the app’s profit the publishers will get or if Apple has already approached any media firms, although the plans are currently in progress.
Over the past few years, the firm has taken part in a range of journalism and content efforts. Most notably, it launched the Newsstand service in 2011, before replacing the app with Apple News.
The company also joined forces with News Corporation to set up an iPad-based news service called The Daily, but it was panned within two years.