Apple Prepares To Slash Commission Under News Partner Program

Apple Inc AAPL announced a cut in first-year in-app subscriptions from 30% to 15% for eligible news publishers under its newly launched Apple News Partner Program.
Apple's app store currently charges 30% of in-app purchases for the first year. The commission gets reduced to 15% if the customer subscribes for a second year.
Eligible publishers need to provide their content in the Apple News Format (ANF) used to create articles for Apple News. Publishers headquartered outside the U.S., U.K., Australia, or Canada need to provide Apple with an RSS feed.
The app needs to deliver original, professionally authored news content. The app should be available on the app store and allow users to purchase auto-renewable subscriptions through Apple's in-app purchase system.
Lately, the iPhone maker noted a slowdown in its app store growth.
In 2020, Apple reduced the commission to 15% for small businesses earning up to $1 million per year.
Apple and Alphabet Inc GOOG GOOGL faced global criticism and scrutiny over their app store dominance.
Price Action: AAPL shares traded lower by 0.53% at $147.57 on the last check Thursday.
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