Published: Tue, March 13, 2018
Hi-Tech | By Cory Rios

Apple announces plans to acquire digital magazine service Texture

Apple announces plans to acquire digital magazine service Texture

The acquisition of the service Texture, owned by Next Issue Media, comes at a time when news publishing as an industry is being shaken up by fake news accusations and Facebook's changing algorithms in ways that prioritize friend activity over brands. We dont really know how to create shows.

Julio Ojeda-Zapata mentioned Texture briefly a year ago in "Lightening the Vacation Tech Load" (14 May 2017) as a way of bringing magazines to read while traveling. We'll also likely see Texture's features being implemented in Apple's own News app as another source of information.

Cue went on to explain that Apple's goal with its News app is "about curation".

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During his discussion at SXSW, Cue said things like white supremacy and hate speech don't have a place on Apple News- the platform wants to lean on the side of what Cue called trusted news sources. So, rather than throwing enormous resources into snapping up an established player, Cue is hinting that Apple would rather buy something small and build the rest in-house. "We've become a pretty decent player in a short amount of time", he added. While drawing comparisons between Apple's approach to content and Pixar's, Cue noted that his company's main focus is on quality storytelling.

Apple has made a few similar acquisitions in the past. Seeing an opportunity to move further into original production, Cue hired Sony TV veterans Zack Van Amburg and Jamie Erlicht to lead worldwide video for the company. That could generate upwards of $360 in annual subscription revenue from those users - more than half of the average selling price (ASP) of an iPhone past year. Cue evoked the name of Apple's late founder, Steve Jobs, who learned through Pixar how to tweak a story until it was great enough to be a hit on release. "There's a difference though; we're not after quantity, we're after quality", said Cue.

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