Apple is planning to launch a news subscription service


Last month Apple Inc. decided to buy Texture, a magazine-subscription application. The move is part of Apple's plan to create its own subscription service in order to generate more revenue from online content.

Texture will merge with the Apple News team to create the online service that will debut within the next year under an updated Apple News app.

Users will pay a flat rate per month with the ability to subscribe to multiple publications. It is an upgrade from the previous Apple Newsstand, where users could individually subscribe to magazines and newspapers. The new service looks to simplify and broaden its previous subscription service.

The news subscription platform is just one of Apple's service products that is vital to the company's growth, and Apple might be creating new services in the future in addition to the products it already has such as Apple Pay and Apple Music.

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