There are more signs that Apple is aggressively expanding its ad business. In today’s edition of Mark Gurman’s Power On newsletter, Gurman reports that Apple VP Advertising Platforms Todd Teresi aims to at least triple revenue from its ad business, bringing annual revenue into the ‘double digits’, up from about $4 billion-per-year today.
Gurman says that Apple has already tested adding sponsored results to search results in the Maps app, similar to the App Store Search Ads program. Ads could also possibly start appearing in the Apple Books and Apple Podcasts storefronts in future.
Apple ads revenue currently comes from a handful of sources; App Store Search Ads, ads in Apple News and Apple Stocks (the news sections), and a share of commercials during MLB Friday Night Baseball streams.
In addition to bringing ads to other stock apps, Apple has already announced that customers will start seeing more ads in the App Store. New ad units in iOS 16 will allow advertisers to place ads on the Today tab in the App Store, and at the bottom of product pages for other apps.
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