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Apple reportedly launching subscription news service

Apple acquired the “Netflix of magazines” last month, and it’s now planning to create its own premium news service. Bloomberg reports that Apple’s Texture acquisition will see the service, which offers more than 200 magazines for £9.99 a month, combined into Apple’s News team. A new Apple News app will reportedly launch within the next year, and offer a subscription with a percentage of revenue shared to publishers.

Apple has tried a similar approach before. Apple killed its Newsstand app in favor of Apple News, and the original app used to offer digital versions of newspapers and magazines.

Apple also previously partnered with News Corporation to create The Daily, an iPad-only news publication. News Corp eventually shuttered The Daily after nearly two years, blaming a lack of audience to create a sustainable business model.

Apple’s latest attempt appears to be targeting a subscription offering for multiple magazines, much like the company’s Music streaming service. The effort will rely on an appetite for paying for quality news sources, something that publishers have been trying with their own “pay wall” options. Bloomberg reports that publishers will be offered a slice of the subscription revenue, but it’s not clear how much Apple will be willing to share.

Apple currently takes a 15 percent revenue cut from app subscriptions in the company’s App Store, and it takes a 30 percent slice for regular app sales.

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Apple announces new red iPhone 8 and 8 Plus

Apple is introducing new red models of the iPhone 8 and 8 Plus today. As with the iPhone 7 models announced around the same time last year, Apple is working with Product (RED), an organization that campaigns to fight HIV and AIDS in Africa; an unspecified portion of proceeds from sales of the phone will go to the charity. Unlike last year, the red iPhone 8 models have a black front panel.

The Product (RED) iPhone 8 and 8 Plus join the existing space gray, silver, and gold models in the lineup. Last year Apple discontinued the red variants of the 7 and 7 Plus once the 8, 8 Plus, and X were announced in September, meaning these new models may only be on sale for less than half a year.

Apple is taking preorders for the new phones from tomorrow, April 10th, and will start shipping them on Friday April 13th.

Pricing remains the same, beginning at £699 for a 64GB iPhone 8 and £799 for an 8 Plus.

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