Apple’s ‘Netflix for Magazines’ Getting a Chilly Reception
When Apple Inc. introduced the iPad eight years ago, media executives rejoiced.
“Sit down once a day and pray to thank Steve Jobs that he is saving the publishing industry,” the head of German publisher Axel Springer said about the tablet in 2010.
But the idea of paging through a magazine on an iPad never really caught on. Newspapers and magazines have continued to struggle. Subscriptions have dwindled for many publications, and ad revenue has shifted to the likes of Google and Facebook Inc.