There aren't many ventures launched by Apple in recent years that have sputtered out of the gate. But even the most loyal fan boys must concede that Apple's mobile advertising platform - iAd - has failed to live up to the grand hype Apple encouraged ahead of its 2010 introduction.
The brainchild of Steve Jobs, iAd may have ultimately been another one of those ideas that was still too far ahead of its time. That is, advertisers continue to approach the mobile channel with some deal of skepticism despite all the latest studies and estimates projecting that mobile advertising's growth will be off the charts in coming years.
Nonetheless, a big makeover is taking place in the mobile advertising wing of Apple today, as we understand it. First and foremost, Apple is making iAd more affordable to advertisers. Upon its market introduction, Apple maintained a $1 million entry price point for advertisers, but the high price proved to be an immense turn-off to ad buyers.
Advertisers will now have to spend just $100,000 for Apple mobile campaigns running in iPhone and iPad apps, down from a previous $500,000 threshold and a significant reduction from the initial starting price of $1 million in 2010, when Steve Jobs unveiled Apple’s first ad product.
Apple has been very quiet about its changes with iAd, but the changes are expected to be significant and sweeping. And only time will tell if they have much effect.