Apple Inc. AAPL 1.01% said it will acquire Next Issue Media LLC and its digital-magazine-subscription service Texture, a product developed by top magazine companies that bundles together some 200 subscriptions into one monthly service.
The acquisition comes as Apple looks to beef up its services business, which includes its music-streaming service and its mobile-payments service.
Apple has set a goal of increasing total revenue from services to more than $40 billion by 2020. The company generated nearly $30 billion in services revenue in its fiscal year ended in September.
Apple typically takes a 15% cut of subscription services from publishers and content providers, including Netflix Inc. and HBO, if those subscriptions are purchased through the App Store.
Terms of the deal weren’t di...Read More