Apple seeing 'significant boost' in advertising business, report says
DKart

Apple (NASDAQ:AAPL) has seen a "significant boost" in its advertising business following the release of its App Tracking Transparency initiatives, according to a newly released report from Appsumer.
The report, which looked at the online advertising spend of more than 100 different consumer app companies from North America and Europe, found that adoption of Apple's (AAPL) search ads has grown nearly four percentage points to 94.8%.
Conversely, adoption of Meta Platforms' (NASDAQ:META) Facebook fell 3 percentage points to 82.8%. Adoption for Google (NASDAQ:GOOG) (GOOGL) also declined two points to 94.8%. 
In addition, Appsumer found that Apple (AAPL) search ads now have 15% of wallet share, up five percentage points, thanks to first-party data advantage on iOS for both measurement and targeting. Conversely, Meta's (META) wallet share declined four percentage points to 28% share. The report noted, however, that there was an increase in early 2022, which suggests the company is "starting to recover" from the ATT-inspired headwinds it has faced.
On the other hand, Snap (NYSE:SNAP) lost 50% of its wallet share to come in at 2% and adoption fell three percentage points to 32.7%. Appsumer added that Snap (SNAP) may recover its wallet share as adoption growth continues to rise.
TikTok, owned by China's ByteDance (BDNCE), saw an advertiser adoption decline of nearly seven percentage points to 43.2%, though their wallet share remained steady at 3%.
âThere is a clear divide between the success of larger advertisers and the struggle of smaller advertisers,â Shumel Lais, General Manager of Appsumer by InMobi, said in a statement. 
The report comes as Apple (AAPL) is reportedly looking to expand its advertising workforce.
Citing data from LinkedIn, the Financial Times
reported that Apple (AAPL) has roughly 250 people in its ad platforms division and is looking to hire more than 200 people for open positions.
Last month, it was reported that Apple (AAPL) was looking to boost its revenue from advertising to "double digits," up from the roughly $4B it generates per year.
Apple (AAPL) may start bringing advertising to Apple Maps, Apple TV+, Apple Books and more. Currently, the tech giant incorporates advertising into its News app, Stocks app and its App Store.
It also has advertising in its Apple TV+ app for its Friday Night Baseball deal.
Cupertino, California-based Apple (AAPL) is set to host a product event tomorrow, where the tech giant is widely expected to announce new product lines for its iPhone, Apple Watch and AirPods.