Apple acquires magazine subscription app Texture

Credit Apple

Details of how much Apple is buying Texture for remain undisclosed.

Texture is owned by Next Issue Media, a joint-venture between the publishers Condé Nast, Hearst, Meredith, Rogers Media and private equity firm KKR. It's not clear if Apple will charge users to access these magazines, as Texture now charges $9.99 a month for the service.

Apple SVP of Internet Software and Services Eddie Cue appeared on stage at SXSW on Monday, and discussed a range of topics, including their just-announced acquisition of magazine app Texture. Enjoy full issues of People, Time, GQ, Glamour, The New Yorker, Bon Appétit, Newsweek, ESPN, National Geographic, InStyle, Allrecipes, Shape, Men's Health, and many other great titles from the most trusted publishers. Within its large catalog, the app curates magazine articles based on the user's interests.

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Cue said that Apple's historical pattern has not been to buy up big companies, like Netflix and Disney, in response to a question about those media giants as potential acquisition targets, per Cheddar's Alex Heath on Twitter.

"I'm thrilled that Next Issue Media, and its award-winning Texture app, are being acquired by Apple", said John Loughlin, CEO of Next Issue Media / Texture, in a statement. "We could not imagine a better home or future for the service". The segment has been one of its fastest-growing across all its revenue streams; the services segment revenue grew 18 percent in the company's most recent quarter compared with the same period past year, only behind the "other devices" segment - which includes Apple Watch, AirPods, and Apple TV - at 36 percent.

And yet, CNN's Dylan Byers, who interviewed Cue, asked why the NRA has a presence in the App Store and on Apple TV.

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