If reports are accurate, then Apple is asking publishers for 50% of the revenue cut for its planned News subscription service. BuzzFeed News yesterday reported that Apple is planning to hold a special event on March 25 at the Steve Jobs Theater on its Apple Park campus.
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We've seen endless reports over the past year suggesting that Apple wants to bundle together magazine and newspaper subscriptions into a monthly plan.
Credit: Karl Mondon/Digital First Media/The Mercury News via Getty ImagesInstead, the March 25 event would focus on subscription services, according to Buzzfeed, which broke the story based citing sources close to the matter.
That "Netflix for news" platform is rumored to include print media outlets like The New York Times, The Washington Post, and The Wall Street Journal. Should the news service take off as a success, offering a year's worth of support is easy.
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It's unclear at this time how much Apple will charge for its anticipated paid news subscription, but sources have claimed that it would sit around $10/month.
Given this sort of precedent, it's understandable why many publishers may have an issue with handing over half their revenue to Apple in exchange for a negligible bump in overall income.
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Apple declined to comment on the report. Apple also now gets to boast about their efforts to help the field of journalism, as the company's vice president Eddy Cue said when they acquired the subscription news app Texture past year.