Apple Inc. Unveils ‘Apple Card’, $9.99 monthly subscription-news offering

Apple Inc. unveiled a new credit card in partnership with Goldman Sachs Group Inc., a video-game subscription service and a news-subscription app, all part of a suite of services the tech giant is announcing Monday as it seeks fresh revenue to make up for sputtering sales in its core iPhone business.

The announcements came at an event where the iPhone maker also is expected to announce a new video-subscription offering with its first original TV shows. The event’s focus on services and software marked a departure for Apple, which typically uses such events to showcase new gadgets. As momentum has stalled in the company’s iPhone business, Chief Executive Tim Cook is ramping up its services in an effort to generate revenue growth.

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The news app, called Apple News Plus, is a premium version of the existing, free Apple News app that will be priced at $9.99 a month. It provides access to articles from more than 300 magazines including Vogue, GQ and Sports Illustrated, as well as newspapers such as The Wall Street Journal and the Los Angeles Times.

Apple secured the rights to those magazines for at least five years and up to 20 years through last year’s acquisition of the app Texture, which was created by some of North America’s leading magazine publishers.

Apple said the app won’t track what people read and advertisers won’t be able to track readers—part of the company’s effort to emphasize user privacy.

“We believe in the power of journalism and the impact it can have on our lives,” Mr. Cook said. “We think Apple News Plus is going to be great for customers and great for publishers.”

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Categories: Apple Inc, Companies, News

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