Red Bull has launched its Red Bulletin magazine as a standalone channel on Flipboard, in a move that could open up a new revenue stream for the service.

The first Flipboard issue of the free magazine will include articles and videos based around  Felix Baumgartner’s recent record-breaking skydive.

While Flipboard has not released any details of the deal, the fact that the magazine is essentially promotional – it is distributed with The Sunday Telegraph in the UK, for example – makes it likely that Red Bull is paying a fee for the channel.

What is more, comments from Red Bull Media director of publishing Nicholas Pavach suggest a long-term commitment. “Flipboard provides reach and an amazing user experience to showcase our stories and engage readers, which is why they are such a great partner for Red Bull Media House,” Pavach said in a statement.  ”We’re excited to see how Flipboard will innovate next and we will work with them to fully exploit mobile platforms.”

Flipboard recently announced a deal with Apple’s iBookstore to offer users a new retail-led Books section. In September it unveiled “the first shoppable clothing catalog on Flipboard” from Levi’s, which sat within Flipboard’s Style category.