Google Play now supports in-app subscriptions

Marking a renewed push at newspaper and magazine publishers.
The move comes a year after Android first began offering in-app payments, which has since become a mainstay of the app publishing universe.
In fact, Google says 23 of the 24 top-grossing apps in Google Play use in-app billing, and the total revenue generated from in-app purchases exceeds revenue from traditional app purchases.
Now, developers can sell auto-renewing monthly or annual subs from inside of their apps. They just set the price and billing interval and Google Play manages the purchase transactions for them.
After the transaction, users are informed of new charges by email at each renewal, and they can visit My Apps in the Play Store app to view their accounts.
The obvious target here is journals and magazines, but entertainment providers can also take advantage to sell game levels, music tracks and so on.

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