Texture has cost Apple nearly $ 500 million

Apple News +

On March 25, Apple presented its new magazine subscription service, a service through which we have access to more than 300 magazines of all kinds, although for now only available in the United States and Canada. This new service has been introduced after the bought a year ago from Texture, the so-called Netflix of magazines.

During the time of the announcement of the purchase, no figures were revealed, figures that the New York Post has just made public and that indicate how Apple invested nearly $ 500 million in a service it could have created itself without having to buy it.

And I say that she could have created it herself, because she had enough time not only to create a platform, which she really already had, such as Apple News, but also has enough reputation that any self-respecting magazine, newspapers we have seen how we are interested in the subject, would be interested in being available on this subscription service.

According to the New York Post, at the time of purchase, Apple initially paid founders Condé Nast, Meredith, Hearts and Rogers $ 100 million. It also promised to pay 145 million more in the first year and another 240 million between the second and third year, adding up to a total of 485 million dollars.

This agreement gives publishers a predominant place for their premium content in the coming years and Apple ensures that its content is available long enough for the platform to become what it is looking for, a new service with which to increase revenue without depending on the physical sales of devices.

Texture reached a peak of 240.000 subscribers during the years it was in operation prior to the purchase of Apple, same figure that Apple reached during the first 48 of operation of the service, although in this case it is about active users, since during the first month, the service is completely free.


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