Apple's latest acquisition considered 'Netflix of magazines'

By TechnologyFOXBusiness

Apple buying the 'Netflix of magazines'

Fox Business Outlook: Texture acquisition comes as Apple tries to ramp up its services business which already includes Apple Music and the App Store.

Apple said it will acquire Next Issue Media and its digital magazine subscription service, Texture, known as the "Netflix of magazines," which bundles about 200 magazine subscriptions into a monthly service. The acquisition comes as Apple tries to expand its services business, which already includes Apple Music and the App Store. Apple's services business grew more than 20% last year.

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Netflix is reportedly testing a new feature that rewards younger viewers with virtual patches for "binge watching" their favorite shows. Netflix said in a statement to Variety that the new feature is an interactive experience meant to add an element of fun and provide kids with something to talk about.  Some parents argue that the promotion is encouraging binge watching early on.

Fitbit announced a new, less expensive smart watch that is almost identical to the Apple Watch. The Versa costs $199.95, compared with Fitbit's GPS-enabled Ionic, which is $300. While the Apple Watch can go for $249 to well over $1,000. The Versa will have features for women. It is now available for pre-order.