Apple Not Buying Netflix, Acquires Magazine App Instead

Ever since Apple’s plans to produce its own original digital content started making the rounds on the internet, there have been speculations with regards to potential acquisitions of existing streaming companies such as Netflix. The Cupertino firm just quashed those rumors during SXSW, when the tech giant’s SVP of Internet Software and Services Eddie Cue said that this was not going to be the case. On the other hand, Apple did acquire a magazine app.

Cue took to the stage at the event held in Austin, Texas on Monday to present some new information with regards to Apple’s future plans, Tom’s Guide reports. A rather obvious sticking point was the matter of the company’s intent to produce original video content. While Apple hasn’t exactly been marketing this aspect, it hasn’t exactly been outright denying it, either.

The Apple executive started the discussion on the topic of acquiring the app called Texture at the prodding of Dylan Byers of CNN. The most notable part of the arrangement was the secrecy that surrounded it, which is actually surprising in this age of constant surveillance.

As to why Apple decided to get the magazine app, Cue notes that it augments the company’s own news distribution service. The magazine’s ability to improve how many lengthy articles the company can feature makes it invaluable.

With regards to its refusal to buy Netflix, Cue also explained that this has not been part of Apple’s strategies in the past, TechCrunch reports. It hasn’t really spent that much time and money buying up major companies. In any case, Apple doesn’t seem to see any change in how users consume media content in the near future.

On that note, Cue did acknowledge that there has been some effort to produce high quality, original media at Apple. He even compared their efforts to that of Pixar, which is known for releasing only movies of incredible quality without compromising for anything.