Apple likely to include advertising in Maps, TV, Books to help boost revenue: report
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Apple (NASDAQ:AAPL) is "likely" to include advertising in its app such as Apple Maps, Apple TV+, Apple Books and more as the company is looking to boost ad revenue, according to Bloomberg.
Currently, the tech giant incorporates advertising into its News app, Stocks app and its App Store. It also started incorporating an advertisement into Apple TV+ for its Friday Night Baseball deal, announced in March.
Bloomberg noted that Apple (AAPL) is believed to generate roughly $4B in ad revenue per year. However, the tech giant and its ad chief, Todd Teresi want to "increase that to the double digits."
On Apple's (AAPL) most recent earnings call, Chief Executive Tim Cook mentioned some shortfalls in the company's Services segment, noting that digital advertising was "clearly impacted by the macroeconomic environment."
Cook added that advertising woes are likely to continue, at least for the upcoming quarter.
As part of iOS 15, Apple (AAPL) introduced its App Tracking Transparency, or ATT, which allows consumers to figure out if they want apps to track them to other apps and websites. Companies such as Meta Platforms (META) and Snap (SNAP) have been hampered by the software change, making it harder for them to deliver more relevant ads to consumers.
Last week, it was reported that Apple (AAPL) and Meta Platforms (META) almost partnered up to share revenue, including one idea that would see Apple take a cut of a subscription-based Facebook that would be ad-free.