Apple has signed an agreement to acquire Texture, a popular digital magazine subscription service that gives subscribers access to a variety of magazines in digital format for a monthly subscription.
Owned by Next Issue Media LLC, Texture offers access to more than 200 magazines from around the world, allowing its subscribers to easily read digital versions from mobile devices, like tablets and smartphones. Naturally, that includes Apple devices like iPhones and iPads. Users can access both the latest magazine issues as well as archived back issues. Magazines include titles like People, Maclean's, Cosmopolitan, Vanity Fair, ConsumerReports, Rolling Stone, Men's Health, and more.
In addition to reading the articles, subscribers can also do things like bookmark favourites to create a personal collection, and can read content offline, without requiring a Wi-Fi connection.
"We're excited Texture will join Apple, along with an impressive catalog of magazines from many of the world's leading publishers," says Eddy Cue, Senior Vice President of Internet Software and Services at Apple. "We are committed to quality journalism from trusted sources and allowing magazines to keep producing beautifully designed and engaging stories for users."
"I'm thrilled that Next Issue Media, and its award-winning Texture app, are being acquired by Apple," says John Loughlin, CEO of Next Issue Media/Texture. "The Texture team and its current owners, Condé Nast, Hearst, Meredith, Rogers Media and KKR, could not be more pleased or excited with this development. We could not imagine a better home or future for the service."
Texture launched in 2010, and has become a leading multi-title subscription service, allowing customers to access popular magazine titles while on the go, and from anywhere for one flat fee. It has done for the printed magazine market, in a way, what Netflix has done for television and Spotify for streaming. (Ironically, Apple also plays in both the streaming TV and music markets as well.)
In 2016, Apple's App Store editorial team selected Texture s one of its annual Best Ofs, which celebrate the most innovative apps and games for iOS users.
At a time when some question the future of print media and authentic journalism, the fact that one of the most well-known, savvy, and successful technology companies is investing in an app that aims to promote quality content and print media (albeit in its digital form), reinforces that consumers still value true journalism.
The financial details of the transaction were not disclosed. There are no additional details about the partnership, but one has to wonder: might Texture only be available to iOS devices going forward? Or will it continue to be available on other devices, namely Android? Stay tuned.
A subscription to Texture is free for the first 30 days as a trail, then $14.99/mo. But several deals can be found through services like Groupon, and Rogers which, as noted, is a part owner in Texture, has, in the past, offered promotional subscriptions to its wireless customers as part of new phone contract sign-ups or renewals.