Ap­ple adds more ‘Tex­ture’ to its ser­vices

Manteca Bulletin - - State/ Dollars & Sense -

CU­PER­TINO ( AP) — Ap­ple has bought dig­i­tal magazine dis­trib­u­tor Tex­ture to ex­tend its sub­scrip­tion ser­vices be­yond music and online stor­age.

The deal an­nounced Mon­day puts Ap­ple in con­trol of a ser­vice of­ten de­scribed as a Net­flix of magazines. Tex­ture al­lows read­ers to pore over ar­ti­cles in more than 200 magazines for $10 per month, much like Net­flix sells un­lim­ited ac­cess to its video pro­gram­ming.

But Tex­ture hasn’t proven as pop­u­lar as Net­flix, which boasts 55 mil­lion sub­scribers in the U.S. alone. Tex­ture hasn’t spec­i­fied how many sub­scribers it has, but CEO John Loughlin said in a 2016 in­ter­view that the number ranged in the “hun­dreds of thou­sands.”

Ap­ple didn’t dis­close how much it paid for Tex­ture, which had raised at least $ 90 mil­lion since it was founded nearly a decade ago as Next Is­sue.

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