Apple may debut its own news subscription service within the next year

Apple may debut its own news subscription service within the next year

As it stands Apple News is more like a collection of various articles pulled from various publications.

Integrating the current Apple News app and recently acquired Texture service, the new Apple news subscription service would give magazine publishers a slice of the revenue. This service could be launched as an extension of Apple News, and it might be ready for prime time within the next year. This approach would set it apart from Apple's previous Newsstand app, which gave users access to magazine subscriptions on an individual basis.

With this new all-you-can-consume model, it would help make things more affordable and could spur more signups.

Apple is planning to launch a premium subscription for news, Bloomberg reported.

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Apple executives have said they plan to hit a target of $50 billion in services revenue by 2021.

Texture lets users subscribe to more than 200 magazines for Dollars 9.99 a month. Texture previously had about 100 staff members. The company bought Beats Music in 2014, shortly before debuting Apple Music with its $9.99-per-month paid tier.

Apple's services business is orders of magnitude smaller than its hardware business, but the company has had success with its Apple Music service, which now boasts almost 40 million subscribers.

Apple News and Apple Music are part of Apple's services division, which CEO Tim Cook has highlighted in recent years as one of the strongest growth categories for the company.

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Apple will likely carefully curate the partner organizations for its news service.

Apple announced plans to purchase Texture last month.

The Apple News subscription could look a lot like Apple's streaming music service, Apple Music.

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