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New-york-times-ipadFinally, now Time and Fortune magazine subscribers can get the same on their iPads for free! Time has made an agreement with Apple today that will allow its subscribers to get free access to magazine content on the iPad. Updated apps are now available to download via the iTunes store for the same magazines.

This is a major boost for Time and Fortune magazines whose subscribers until now had to pay for seperate access to the iPad regardless of their print subscription. People magazine was the first to offer free iPad app access to its existing print subscribers. Now Time, Fortune and Sports Illustrated are joining in which is sure to give these magazines a boost in its print media subscriptions. The magazines charge a $5 per illustration fee for exclusive iPad access.

Three months back Apple announced its in-app subscription system which allowed publishers to offer existing subscribers free access to the magazine. Publishers however can only offer subscriptions through the app itself which allows Apple to get a 30 percent of whatever gets sold through the app.

Wonder what other publishers will follow suit?

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