# Apple Acquires Texture, Expanding Its Media & Entertainment Portfolio
## Company Overview
Apple Inc., one of the world's leading technology companies, has recently announced a significant expansion into the media and entertainment space with the acquisition of Texture. This move marks another milestone in Apple's strategy to dominate the subscription-based media landscape.
### Key Players in the Deal
- **Eddy Cue**: Apple's COO, who will play a pivotal role in integrating Texture's offerings into Apple's ecosystem.
- **KKR**: The private equity firm that acquired Texture earlier this year. KKR has been a key player in several high-profile tech acquisitions recently.
### The Acquisition Process
Texture, a startup known for its subscription-based media service, announced the sale of its platform to Apple for an undisclosed amount. The deal is expected to close in late 2017. This marks Texture's exit from the startup world and its integration into one of the most prestigious tech companies.
## Understanding Texture
### What is Texture?
Texture is a subscription-based media service that offers access to a curated selection of digital content, including movies, TV shows, books, and more. The service prides itself on offering high-quality content at a fraction of the cost of traditional pay-per-view services.
### Key Features of Texture
- **Diverse Content**: Texture offers something for everyone, from classic films to the latest blockbusters.
- **Subscription Model**: Users can choose between monthly or annual plans, with discounts available for premium subscribers.
- **Cross-Platform Accessibility**: Content is accessible on multiple devices, including iOS, Android, and web browsers.
## Apple's Strategy
### The Significance of the Deal
Apple has been a pioneer in the digital media space, with its App Store providing a platform for thousands of apps. However, the company has been lagging behind in the subscription-based content space. The acquisition of Texture is seen as a strategic move to fill this gap.
### Integration into Apple's Ecosystem
Apple's integration of Texture's services will likely involve merging it seamlessly into existing Apple devices and services. This could include compatibility with Apple TV, iOS devices, and even macOS systems.
## Market Impact
### Competitors
- **Amazon Prime**: A dominant force in the subscription-based media space.
- **Google Play Pass**: Google's attempt to challenge traditional pay-per-view models with its Premium service.
- **Spotify & Other Music Streaming Services**: While focused primarily on music, these services also offer content beyond just audio.
## The Deal's Significance
Apple's decision to acquire Texture is seen as a move to solidify its position in the subscription-based media space. With its billions of active users, Apple has the resources to integrate Texture into its ecosystem and drive growth.
### Key Points Discussed:
- **Eddy Cue**: Apple's COO will play a key role in the integration process.
- **KKR's Role**: The private equity firm acquired Texture earlier this year and is now exiting as the sale to Apple closes.
- **Ingrid Lunden's Bio**: Ingrid Lunden, Europe Editor at TechCrunch, has provided insights into the deal.
## Broader Implications
### For Apple
This acquisition is part of a broader strategy to diversify its offerings. By expanding into media and entertainment, Apple can tap into new revenue streams while enhancing user engagement.
### For Competitors
The rise of subscription-based services could further intensify competition in the digital media space, forcing companies like Amazon and Google to innovate even more aggressively.
## Conclusion
Apple's acquisition of Texture is a strategic move that could have far-reaching implications for the company and the industry as a whole. By integrating Texture into its ecosystem, Apple has taken a significant step towards consolidating its position as a leader in digital media.
# Ingrid Lunden: Europe Editor at TechCrunch
Ingrid Lunden brings over two decades of journalism experience to her role as Europe Editor at TechCrunch. She has worked with leading publications such as The Guardian and Forbes, where she covered breaking tech news across various regions. Her expertise lies in technology, media, and entertainment (TMT) sectors.
Before joining TechCrunch, Ingrid served as Senior Correspondent for bbc.com/technology and tech editor at the Sunday Times. She is also a regular contributor to BBC News and The Guardian, where she writes about issues related to technology, culture, and society.
Ingrid holds a BA in English Literature from the University of Manchester.
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# Apple Acquires Texture: A Major Move in the Digital Media Space
