Apple Buys Texture, the Netflix for Magazines

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The Apple exec drew comparisons between the company's approach to content and Pixar's, meaning it has a focus on quality storytelling, and also suggested there will be some "surprises" in store for how the programming is viewed once available.

It's not clear if Apple will charge users to access these magazines, as Texture now charges $9.99 a month for the service.

In 2010, Next Issue Media launched Texture with a consortium of publishers including Condé Nast, Hearst and Meredith to replicate the success of the unlimited model that's successful in other forms of media, like TV and movies.

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Texture's magazine catalog includes Entertainment Weekly, Billboard, Vanity Fair, Vogue and Bloomberg Businessweek.

Cue is senior vice president of Internet software and services for Apple. The Cupertino, California company aims to top $50 billion in annual services revenue by 2021, and a magazine subscription service would likely contribute to that. In 2014, private-equity firm KKR invested $50 million in the company.

Cue said that Apple's historical pattern has not been to buy up big companies, like Netflix and Disney, in response to a question about those media giants as potential acquisition targets, per Cheddar's Alex Heath on Twitter. Access great stories, classic recipes, and more from years past.

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Eddy Cue, Apple's senior vice president of Internet Software and Services: "We're excited Texture will join Apple, along with an impressive catalog of magazines from numerous world's leading publishers".

Eddy Cue was scheduled to go onstage at SXSW in Austin, Texas, today to discuss Apple's media ambitions.

He didn't say exactly how Texture would be rolled into Apple News. In January, it bought BuddyBuild, a Canada-based app development service.

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