Apple’s much talked about news subscription service could be going public soon. The company has been working on a news subscription service that works similar to Netflix for a while, and it’s getting ready to launch the service next month.
BuzzFeed reported on Tuesday that Cupertino is planning to hold a services-focused event for on March 25, where the company will talk about its new services. The major focus is likely going to be on this new news subscription service, and it’s unclear if the company plans on discussing its upcoming streaming service that will go head to head with Netflix.
Apple has been pushing its services business recently, following declines on iPhone sale numbers. The company is reportedly in talks with major publications for the news subscription service, though it’s likely going to have some trouble getting publications to join the service. According to the WSJ, Apple is reportedly asking for a 50% cut of revenue from publishers. The service will likely be available for $9.99 a month to users.
Publications would have to give away 50% of their revenue to Apple, and the amount of revenue they generate will depend on how much time readers spend reading their content on the service. 50% is a huge cut for the journalism industry, so it’s not surprising to see Apple facing issues getting publications to sign-up for the service. Furthermore, the WSJ reports that publishers are concerned about access to user data that are crucial for their own marketing efforts.
Apple is unlikely to launch new hardware at the event, however. So if you were like me and waiting for the new AirPods or even the new iPad Mini, you are probably going to be disappointed.