Apple is creating a new subscription news service that’s to drop next month. The news service is being described as “Netflix for news,” due to unlimited content customers can access from publishers for a single monthly fee. They will most likely charge a monthly fee of $10 for the news service. Apple will base the news service off of a revamped version of Texture, a media subscription service Apple purchased last year. The main target audience is consumers who are serious about the news and willing to pay for it.
Apple is reportedly working with The New York Times, The Washington Post and The Wall Street Journal. A few of the many subscription news that may be available to subscribers. The article states their biggest challenge is getting publishers on board. However, I believe their biggest challenge would be competing with free social media news. Most American’s receive their news from social media sites such as Facebook, Youtube, Twitter, and Instagram. Facebook is the number one platform where 43% of American’s get their news. With YouTube being second at 21% and Twitter being the main news source for only 12% of Americans. Most people receive their news from social media sites because of its convenience, which further plays into Apple’s news subscription service. Apple may be successful with their news subscription service because although 68% of American adults get their news from social media platforms 57% believe its inaccurate. Apple is giving access to more reliable news, The New York Times, The Washington Post and The Wall Street Journal ect., for a fraction of their individual subscriptions costs. Apple has taken over music streaming services with iTunes, so now let’s see what effect Apple will have on the news media.
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