According to the current info, this new service will cost $10 per month and will allow Apple customers to have access to content from a variety of news outlets. The Cupertino-based iPhone maker's much anticipated video streaming service is another candidate that may mark its presence at the upcoming event as Apple had reportedly told the studios and TV networks recently to get ready for an April launch.
Once publishers give 50 percent of their revenue to Apple, the other 50 percent is added to one large pot and then split amongst publishers depending on how often readers engage with their content. YouTube attempted to implement a similar plan with their YouTube Red subscription service; according to those that participated in the plan it did not work out well.
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.
The long-rumored Apple streaming service could finally launch in just a few months.
Apple is holding an event on March 25 that is believed to be the day when the new news service will officially debut. "On services, you will see us announce new services this year", Cook said.
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That sounds well and good, but CNBC relays that Apple's TV offerings may not include service options from the likes of HBO and Netflix.
Also, if the March 25 event turns out to be subscription-focused, it isn't clear when new hardware will make an appearance.
An Apple spokesperson declined to comment when contacted by ZDNet. When it comes to subscriptions sold through the App Store, Apple keeps 30 percent of the price the first year.