Apple On The Move To Aggressively Expand Its Ad Business With Plans To Triple Current Revenue Figure

Apple has its eyes fixed on expanding its current ad revenue; by that, we mean triple the amount observed in its current figure today.

The news comes as Mark Gurman unveiled through his newsletter platform how the leading iPhone maker’s VP for Advertising announced targets to boost annual revenue and reach the double-digit mark. That means seeing a raise from the current $4 billion per year observed. In reality, it’s triple the figure that’s in sight now.

Gurman mentioned how Apple has already conducted plenty of tests in terms of incorporating sponsored results into its search for the Maps application. This is actually quite similar to that seen across the App Store’s program designed to target Search ads.

At the same time, the new decision could also mean that more of us will be witnessing ads pop up inside the Apple Books and the Apple Podcasts storefronts in the near future.

Just for a little heads up regarding background information, most of the ad revenue generated from Apple comes through a handful of essential sources. And common examples include ads from the App Store Search as well as those noticed in Apple News. There are some even published on Apple Stocks, which has a section dedicated to news.

Similarly, Apple puts ads during baseball streams such as the famous MLB Friday Night ordeal.

Apple says that in addition to bringing forward ads through various stock apps, the company has made plans to enable more ads to be placed in its App Store. This way, so many new ads would be seen in the iOS 16 units.

Apple hopes that it will give different advertisers the chance to add more of their commercials across the famous Today Tab while placing a few in the bottom portion of product pages as well.

We’ve seen Apple through some hard times with a slump in hardware sales across the last five years. But that doesn’t mean the tech giant has any plans of slowing down and instead, hopes to pick up the pace with other revenue-generating sources through its service and ads are the perfect place to begin.

Apple reportedly started venturing into the world of commercials during the time when Steve Jobs was present as the firm’s CEO. He made the unveiling of the company’s iAd for 2010, which would end up making developers put ads across Apple banners, instead of the usual offering in its apps from a few other sources like Google’s AdMob.

But to many people’s shock, it was a complete disaster and ended up being terminated after a few years.

With time, we saw Apple getting criticized for making expansions in ads as it literally tried to cripple the current third-party market for ads using privacy features like the ATT act.

And when looking at things from a customer’s perspective, well, Apple is also risking its own premium reputation with these ads. After all, no one would appreciate the company going too far with ads’ inclusion across premium devices.

Read next: Apple Wanted A Share Of Facebook’s Ad Revenue Before Holding Back Its Ad Sales
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