Apple’s Anticipated News Service Held Up by Revenue Model

2000px-Apple_logo_black.svgPublishers are troubled over the terms Apple’s forthcoming so-called “Netflix for news” subscription service.

According to a report in The Wall Street Journal, the Cupertino-based tech giant wants to take 50 percent of revenues for the new service.

The service, which is rumored to cost $10 a month, would give subscribers access to a wide range of content similar to Netflix or Hulu.

Publishers are apparently unhappy with the proposed terms, in which Apple would pocket half of the revenues and publishers would divide the other half based on how much time people spent reading their content.