Published: Tue, March 13, 2018
Economy | By

Apple inks deal to buy the 'Netflix of magazines'

Apple inks deal to buy the 'Netflix of magazines'

We're on the ground at SXSW 2018 in Austin, Texas where Apple's Eddy Cue is about to take the stage to discuss media curation with CNN's Dylan Byers. Cue evoked the name of Apple's late founder, Steve Jobs, who learned through Pixar how to tweak a story until it was great enough to be a hit on release. Details of how much Apple is buying Texture for remain undisclosed.

"Generally the history of Apple - we have not made huge acquisitions", said Cue, before referencing Wayne Gretzky's "skate to where the puck is going, not where it is" line.

While Cue said Apple won't be purchasing Netflix (it could if it wanted: Apple is worth over $910bn and Netflix is $25bn in debt), the tech giant recently hired two executives for its grand TV strategy and now has a team of 40 people both based in the U.S. and overseas.

After two years of searching, Cue said Apple was able to recruit two television executives - Jamie Erlicht and Zack Van Amburg - to guide the company's video programming strategy.

In 2014, Apple acquired the company behind TestFlight, a service that provides app beta deployment and analytics.

"We're all in, we're completely all in", said Cue. At that point, we should have more information both as to the intentions of the company with the service as well as the future of the application as it now stands. "There's a difference though; we're not after quantity, we're after quality", said Cue. It's about finding the right ones. The team has now expanded to 40 people in the US and internationally. I just used my Tompkins County Public Library card to activate an RBdigital account, and now I have more magazines on my iPad Pro than I possibly have time to read. "(NFLX) of magazines" as it doubles down on content with a new journalism platform. The digital magazine landscape hasn't been an easy one to compete in, mind. I want to get an alert when the Duke game starts to remind me when it's there."Why am I not getting notified?"

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