Peter Stern, VP of services at Apple, was also responsible for “advertising” – as he described it in his LinkedIn profile. However, Cue has demanded that Stern be fully dedicated to services as Apple One, which means Todd Teresi will assume responsibility for Apple’s advertising business.
Apple isn’t precisely a service firm because its major source of revenue is still hardware, but subscriptions have become an important element of the corporation. They are currently larger than Apple’s Mac and iPad. Nonetheless, the corporation appears to desire to expand its service area by promoting streaming platforms and commercials. According to a Business Insider article based on insiders familiar with the topic, Apple intends to reorganise its Services team in order to increase the profitability of the category. Apple’s senior vice president of services, Eddy Cue, has already begun making improvements to improve the company’s services.
These changes come as Apple’s services have seen record profits and subscriber numbers. Apple’s sole source of advertising, which is App Store Search Ads, grew 238% to $3.7 billion in 2021 and are forecast to reach $5.5 billion by the end of this year. The report claims that changes to Apple’s privacy policies, which include App Tracking Transparency, have led more developers to spend on App Store Search Ads.
Still, there’s more to come. Business Insider corroborates rumors that Apple has been negotiating to bring NFL games to Apple TV+, which would potentially attract even more subscribers to the platform. The company could monetize NFL content by offering it with advertisements or through an additional sports bundle. Earlier this year, Apple officially teamed up with MLB to bring Friday Night Baseball exclusively to Apple TV+. However, details about when customers will see these changes in practice remain unclear.
The News Highlights
- Apple is revamping its services to focus on streaming and advertising
- Check the latest update on Security news
For Latest News Follow us on Google News
- Show all
- Trending News
- Popular By week