(CBS News) Next Issue Media is changing the subscription model for magazines. The company launched an Android newsstand app that's being called the "Netflix for magazines."
The digital newsstand was born out of a joint venture of five major magazine and newspaper publishers - Conde Nast, Hearst Corporation, Meredith, News Corporation and Time Inc.
Next Issue sells individual magazines and subscriptions, but it's the unlimited access plan that people are talking about. There are currently 32 different magazines available for the unlimited subscription plan, including titles like Vanity Fair, Esquire and People.
"This is a game changer for customers," said Morgan Guenther, chief executive officer of Next Issue Media in a statement. "We're bringing it all together. The most popular magazines, a great reading experience, interactive content and unlimited access to our entire catalog - with lots more to come."
So how does it work? It's a subscription model that's most similar to the video-streaming service Netflix or music-streaming service Spotify. Instead of purchasing one film, album or magazine, you subscribe to Next Issue's service, which starts at $9.99 per month for a basic plan. Adding weekly magazines, like The New Yorker or Sports Illustrated will cost $14.99 per month.
It's not a bad deal, if you already purchase or subscribe to individual magazines. For comparison, a monthly subscription for one title via Next Issue is $1.99 per month and single issues can range anywhere from $2.49 to $5.99 per month.
The app is currently only available on Android tablets running version 3.0 (Honeycomb). A spokesperson for Next Issue told CBS News via email that they plan to submit and app to the Apple App Store soon. Pending approval, we can expect an iPad version to be available "later this year."
The Next Issue app is available for download at Google Play.