Apple just announced Apple News+, a news subscription service for $9.99 per month

FILE - In this June 4, 2018 file photo, Apple CEO Tim Cook speaks during an announcement of new products at the Apple Worldwide Developers Conference in San Jose, Calif. Apple is expected to announce Monday, March 25, 2019, that it’s launching a video service that could compete with Netflix, Amazon and cable TV itself. (AP Photo/Marcio Jose Sanchez, File)

  • Apple announced a new subscription news service called Apple News+ during a special event at the Steve Jobs Theater on Monday.
  • Apple News subscribers will gain access to articles from more than 300 news outlets and magazines for $9.99 per month, with family sharing.
  • Along with Apple’s new subscription TV service, the Apple News update is a big part of the company’s plan to drive new revenue growth with new subscription offerings.

Apple announced a news subscription news service, Apple News+, on Monday during a special event at the Steve Jobs Theater in Cupertino. Starting today, Apple  News+ will curate articles from more than 300 news outlets and magazines via the Apple New app for a monthly fee of $9.99.

Magazines and articles included with the Apple News+ subscription will appear in a new tab on the Apple News app; the app will get a refreshed design with Apple’s next iOS software update coming later today.

Apple News+ will feature several major news outlets, including The Wall Street Journal, Vox, and the Los Angeles Times. Notably absent are the New York Times and Washington Post. Apple News+ subscribers will also have access to more than 300 magazines that were included with Texture, the digital magazine app Apple purchased last year.

For costlier subscriptions like The Wall Street Journal, Apple’s app offers a significant discount. An all-access digital subscription to The Wall Street Journal currently costs $19.50 per month, compared to $9.99 for access through Apple News.

Apple’s decision to move towards selling subscription services represents a shift in the company’s business model. The company has typically focused on selling hardware like iPhones and MacBooks, but sales have slowed in recent years.

Selling subscriptions gives Apple an opportunity to leverage the large userbase currently using Apple products. Based on Apple’s February earnings report, Apple Music has more than 50 million paid subscribers; Apple News has 85 million people using the free version of the app, making it the most popular news app in the world. Apple also earns revenue when users sign up for third-party subscriptions through Apple’s apps.

The Apple News+ subscription will launch with iOS update 12.2, which will be available later today.

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