Apple Launches Subscription Service On App Store

Apple today launched a new subscription service on the App Store that allows customers to purchase subscriptions to publications including magazines, newspapers, video, music and more. The digital subscriptions service also applies to “The Daily”, the iPad specific news publication launched with News Corp. As part of the agreement, Apple will earn a 30 percent share of revenues.

“Our philosophy is simple—when Apple brings a new subscriber to the app, Apple earns a 30 percent share; when the publisher brings an existing or new subscriber to the app, the publisher keeps 100 percent and Apple earns nothing,” said Steve Jobs, Apple’s CEO. “All we require is that, if a publisher is making a subscription offer outside of the app, the same (or better) offer be made inside the app, so that customers can easily subscribe with one-click right in the app. We believe that this innovative subscription service will provide publishers with a brand new opportunity to expand digital access to their content onto the iPad, iPod touch and iPhone, delighting both new and existing subscribers.”

Speaking of “The Daily”, are you planning on subscribing? Be sure to take our poll.