Apple’s vice president of advertising, Todd Teresi, is interested in expanding the ad business to double digits well beyond its current rate of C$4 billion a year, according to Apple watcher Mark Gurman of Bloomberg.
Proposed steps toward multibillion-dollar ad revenue include replicating the existing model, which helps developers solve discovery with ads in the App Store, and extending search ads to Apple Maps, Apple Books, and Apple Podcasts.
There is also the possibility of an ad-supported Apple TV +, which could offer a lower price as users cut spending due to inflation. Taking this step means Apple will be joining other popular streaming platforms that are already considering ad-supported subscriptions.
In July, Apple expanded its ad business by adding two new ad slots to the App Store. The App Store now has two ad slots: one on the main ‘Search’ tab and one in the Search results. The two new ads in the App Store aim to bring ads to the App Store’s “Today” homepage and also to individual app pages.
The sources for this piece include an article in ZDNet.