Apple has launched a new digital subscription service that sells magazines, newspapers and music, according to MediaGuardian.
The new system was developed with News Corporation’s iPad-only newspaper, The Daily, in mind, and will be used for the iPhone, iPod Touch, and iPad.
Publishers, who will set the prices for their own products, have hitherto only been able to sell each issue of their magazines or newspapers individually.
Apple will be responsible for processing all subscriber payments and will take a 30 per cent cut when the product is bought through its expanded App Store.
Apple’s Steve Jobs, who is currently on medical leave, said in a statement: “Our philosophy is simple – when Apple brings a new subscriber to the app, Apple earns a 30 per cent share; when the publisher brings an existing or new subscriber to the app, the publisher keeps 100 per cent and Apple earns nothing.
“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 on to the iPad, iPod touch and iPhone, delighting both new and existing subscribers.”
Image taken by Flickr user Yagan Kiely, licensed under Creative Commons.