Apple Looking At Cutting 30% Revenue Split For Subscription Media Services

Apple is reportedly looking to change the 70/30 revenue split for a number of subscription-based services.

The tech company is discussing the move with a number of high-profile media companies, according to the Financial Times.

The revenue split, or “Apple tax”, has been in place, and mostly unchanged, since 2003, when Steve Jobs launched the iTunes App Store.

But now the company is looking to cut the 30% split that media companies pay on subscriptions.

According to the Financial Times this would, at the moment, only apply to content creators like digital newspapers, magazines, music and video streaming services.

People close to the talks said Netflix, Hulu, HBO Now, Condé Nast and the New York Times were involved in discussions.

Apple paid over $10 billion dollars to developers last year, from customers downloading paid apps and making in-app payments.

Apple has previously lowered the revenue split on Apple TV to 15%.

And although it seems as if the App Store terms for developers will stay the same for now, the fact that Apple are being more flexible on the revenue split for subscription-based services could provide some hope to dating companies for the future, if these plans with the media companies go ahead and are mutually beneficial.

This move comes ahead of the expected launch of Apple’s music streaming service, Apple Music, set to be announced at their Worldwide Developer conference today.

Watch the stream of the conference here.