While Apple did let twenty Texture employees go shortly after the acquisition, close to eighty people remain and they will now be focused on growing Apple News with the knowledge and technology they bring from their experience growing a digital magazine subscription service. Previously Apple only sold music on an individual track basis through iTunes for about 99 cents per track.
"We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers", said Apple executive Eddy Cue in a press release after Texture's acquisition on March 12.
Southampton 2 Chelsea 3: Two-goal substitute Giroud inspires turnaround
Antonio Conte's men won 3-2 away at Southampton on Saturday, but the Blues needed to rally after going 2-0 down by the hour mark. It was a notable strike for a number of reasons-but most crucially, it looked to have wrapped up all three points for Saints.
You might pay Apple every month for music or iCloud storage, but would you pay it for news? Since then, the company has turned the service into Apple Music and now has over 40 million paid users on the platform. Sales from that segment grew 23 percent to $30 billion in the company's 2017 fiscal year. Apple has said that it is targeting annual service revenue of $50 billion by 2021. Altering the balance in favor of more subscription-based content could transform Apple News from a library- or RSS-like aggregator into more of a store.
Repeating the success of the Beats deal with a Netflix for news will be hard, according to Gene Munster, a longtime Apple analyst and co-founder of Loup Ventures. Apple rarely cuts positions, but after the company acquired Beats, it released about 200 people.
Make it your business.