Apple to launch news subscription service: Bloomberg

Discussion in 'Market News' started by sniper-academy, Apr 17, 2018.

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  1. sniper-academy

    sniper-academy Administrator Staff Member

    Sep 30, 2011
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    Apple Inc. intends to launch a news-subscription service following its acquisition of magazine-subscription app Texture, according to Bloomberg. The premium service will be housed in the Apple News app, the Bloomberg report said, and is expected to launch within a year. Apple will give some of the revenue it makes from the service to magazine publishers, Bloomberg said. The news-subscription service would play into Apple's goal of growing its services business, which is currently consists of revenue from the App store, Apple Pay, Apple Music, and other non-hardware sources. Shares of Apple are up 0.6% in premarket trading and up 24% over the past 12 months. The Dow Jones Industrial Average , of which Apple is a component, has gained 19% in that time.

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