Last Updated on: 23rd July 2023, 02:00 am
iPhone Users May See More Ads On Their Devices Soon
Apple generates more than 4 billion USD in advertising revenue annually, but apparently, that’s not enough for the Cupertino giant. According to a new report from Bloomberg, the US phone maker plans to put more advertising on iPhones to boost sales.
According to the report, Apple plans to increase its advertising revenue to “double digits” soon. iPhones already show ads in some stock apps like Apple News and Stocks, but more will appear in the App Store soon.
Apple Maps may receive ads too similar to its biggest competitor, Google Maps. It’s ‘likely’ that the App Store will get ads in the Podcats and Books section.
Meanwhile, Apple has been a barrier to targeted advertising from other apps. In 2021, Apple released a new feature for the iPhone called App Tracking Transparency, which lets you choose whether you want apps to show you targeted ads.
Most iPhone users have blocked targeted ads with this feature, which has presented a major challenge for companies like Facebook, Peleton, Snap, and others.
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Analysts are predicting that Apple is in the early stages of building a new mobile advertising platform that will be the next big moneymaker. The company stepped up its recruitment efforts for the advertising platform and also had a strong presence at the Cannes Lions advertising festival in June.
The company’s advertising business has declined in recent years due to the COVID-19 pandemic. Apple’s services business, which relies heavily on advertising in the App Store, grew at a slower pace for several quarters, and consumer spending also slowed. Analysts said:
Overall, we believe the growth of at least 20% is achievable for Apple’s overall advertising segment in the coming years.
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