By Shreya Jois, Partnerships
As subscription services for almost every type of media product are popping up everywhere, from MoviePass to Spotify, one of the biggest questions on everyone’s mind is when news media will be added to this growing list since many apps and companies have tried, but none have achieved Netflix level success. However, Apple’s purchase of Texture, the largest magazine subscription aggregator, is a clear signal that Apple is looking to launch a substantial News counterpart of Apple Music in the coming months or years.
Of course, what this means for media planning and advertising is up for debate. Since news platforms have always been ad supported, a subscription news aggregator service seems pretty inconceivable, especially because most large scale news publishers have their own monthly subscription services. Furthermore, publishers have always been reluctant towards adding an intermediary between consumer revenue and readership.
However, even with all of this uncertainty, what should most definitely be on everyone’s radar is the fact that big players such as Apple are clearly planning a serious entry into the news subscription service model. Big time publishers, media planners and advertisers alike must consider this upcoming shift in the news content world in order to be one step ahead.