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Apple Will Halve Its Commission for Eligible News Subscriptions

After massive criticism, Apple will halve its current 30% in-app subscription fee from customers, app developers and regulators.
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Apple  (AAPL) - Get Apple Inc. (AAPL) Report said Thursday that it would halve, to 15%, its commission on first-year in-app subscriptions for eligible news publishers who are part of the Apple News service.

The change comes after massive criticism of Apple’s current 30% fee from customers, app developers and regulators.

“Apple today introduced the News Partner Program, a new slate of initiatives to expand Apple’s work with and support for journalism,” the company said.

“The News Partner Program aims to ensure Apple News customers maintain access to trusted news and information from many of the world’s top publishers, while supporting publishers’ financial stability and advancing efforts to further media literacy and diversity in news coverage and newsrooms.”

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“The News Partner Program is designed for subscription news publications that provide their content to Apple News in Apple News Format,” the company said.

“To support publishers who optimize more of their content in ANF, Apple News is offering a commission rate of 15% on qualifying in-app purchase subscriptions from day one.”

Publishers can apply for the News Partner Program starting Thursday. Apple News comes installed on iPhones.

Apple stock recently traded at $148.54, little changed. It has climbed 23% in the past six months.

In July, TheStreet.com Founder Jim Cramer explained how he approaches Apple stock differently from fellow tech giant Nvidia  (NVDA) - Get NVIDIA Corporation Report, the semiconductor maker.

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