Apple Nails First Major Publisher for iTunes Subscription Plan, Hearst
Hearst Corporation said it will make three of its titles—Esquire, Popular Mechanics and O, The Oprah Magazine—available on the iPad for US$1.99 a month or US$19.99 a year, reports PC Magazine. The iPad editions will begin with their July issues.
Apple’s subscription plan, which the company unveiled mid-February, was a long time coming for the company which had only allowed media companies to sell their publications on an app-by-app basis. However, Apple will take a large 30% cut of sales as its commission.
One other gripe publishers had with Apple’s subscription plan was the fact that they had to share all its consumer data with the technology company.
Since announcing the plan, no major publishers bit back until now.
“It’s an equitable and fair deal for both sides,” Hearst Magazines vice president of public relations Jessica Kleiman told the Financial Times. “There was a lot of back and forth and we feel it’s a fair agreement in terms of sharing the data and owning customers together.”
[via PC Mag]