Texture (app)

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Next Issue Media LLC
Texture (app) logo.png
Texture iPad app screenshot.jpg
Type of businessPrivate
Founded2010 (company)
2012 (app)
Headquarters1 Apple Park Way, Cupertino, California
Area servedUnited States, Canada
OwnerApple Inc.
Key peopleJohn Loughlin (CEO)
Websitetexture.com (US)
texture.ca (CA)
CommercialYes
Current statusActive
Native client(s) onAndroid, iOS, Kindle Fire HD

Texture (previously known as Next Issue) is a digital magazine app launched in 2012.[1] The service has a monthly subscription fee that gives readers access to over 200 magazines.[2] The service was established by Next Issue Media, a joint-venture between Condé Nast, Hearst Magazines, Meredith Corporation, News Corp, Rogers Media, and Time Inc..[3] Reading apps are available on iOS, Android and Kindle Fire HD.[4] Rogers Communications brought the service to Canada in late 2013.[5] The following year, a French version of the app was launched.[6]

In December 2014, Next Issue Media, which The Wall Street Journal described as a Netflix-like subscription service for magazines, secured $50 million in financing from Kohlberg Kravis Roberts.[7]

Next Issue rebranded itself as Texture and relaunched in September 2015.[8][9] That same year, Texture paid out $15 million in subscription revenue to publishers.[10]

On March 12, 2018, Apple Inc. announced it had signed an agreement to acquire Texture for an undisclosed sum.[11]

Texture announced on their website that they will shut down on May 28, 2019, due to the release of the Apple News+ subscription service.[12]

References[edit]

  1. ^ Ha, Anthony (30 September 2015). "Netflix-Style Magazine App Next Issue Relaunches As Texture". TechCrunch. Retrieved 24 December 2017.
  2. ^ "Texture Catalog". Retrieved 24 December 2017.
  3. ^ "Rogers unveils Netflix-like all-in-one digital magazine subscription service". Financial Post. Retrieved 24 December 2017.
  4. ^ Mlot, Stephanie (1 October 2015). "Netflix-Like Magazine App Next Issue Is Now 'Texture'". PC Magazine. Retrieved 24 December 2017.
  5. ^ Bradshaw, James (30 September 2015). "Rogers revamps Next Issue app to cater to digital reading habits". The Globe and Mail. Retrieved 24 December 2017.
  6. ^ "Rogers brings Next Issue magazine subscription app to Canada". CBC News. 26 September 2013. Retrieved 24 December 2017.
  7. ^ Jeffrey A. Trachtenberg (2 December 2014). "Digital-Magazine Service Gets KKR Funding". The Wall Street Journal. Retrieved 3 May 2018.
  8. ^ Dana Wollman (30 September 2015). "Next Issue, the Netflix for magazines, reborn with a fresh design and new name". Engadget.com. Retrieved 3 May 2018.
  9. ^ Peter Kafka (30 September 2015). "Next Issue Media, the 'Hulu for Magazines' Tries a New Name and a New Idea - Make Your Own Magazine". Recode.com. Retrieved 3 May 2018.
  10. ^ Keith J. Kelly (21 June 2016). "The 'Netflix of magazines' is about to get a lot bigger". The New York Post. Retrieved 3 May 2018.
  11. ^ Apple buys Texture, a digital magazine subscription service CNBC, March 12, 2018
  12. ^ Eadicicco, Lisa (29 March 2019). "Apple is shutting down the magazine service it acquired last year now that Apple News Plus has launched". Business Insider. Retrieved 29 March 2019.