Apple frustrated publishers with plan to keep half of revenue from proposed news service: report

Apple has reportedly frustrated publishers with its plan to create a paid subscription news service that would allow the company to keep roughly 50 percent of the revenue from subscriptions while the publishers split the rest.

The Wall Street Journal reported Tuesday that Apple is planning to launch a "Netflix for news" service, which would give charge Apple users a monthly fee to access unlimited news content from participating publishers. The company has reportedly presented publishers with a plan that would charge subscribers $10 per month.

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The New York Times and Washington Post have so far declined to partner with Apple's news service, partially over concerns about the amount of revenue that Apple is hoping to keep, the Journal reported. The Journal also has not agreed to license its content.

Apple's news service would expand its free "Apple News" app, offering subscribers access to stories that are currently behind a paywall. The Journal, Times and Post all have paywalls on their content on their websites.

Apple has reportedly asked to keep about 50 percent of the revenue from the news service and divide the other half among publishers based on how much time readers spend reading each outlet. 

Publishers have also chafed as Apple declines to share subscriber data with them as part of the plan, according to the report Tuesday.

Apple declined to comment to the Journal for its report. The Hill has reached out to Apple for comment.

BuzzFeed News reported that Apple could announce its subscription news service at an event March 25 in Cupertino, Calif.  

Apple has been investing more in its services business as iPhone sales drop. It is reportedly developing a new video service, CNBC reported.