Apple to Charge a Premium to Put Ads in Mobile Apps
Setting a high bar for its debut in the advertising business, Apple Inc. (AAPL) aims to charge close to $1 million for ads on its mobile devices this year and perhaps even more to be among the first, ad executives say.
Apple is hitting the road to showcase its new mobile-device advertising capability, dubbed iAd, and has indicated it could charge as much as $10 million to be part of a handful of marketers at the launch, according to a person familiar with the matter.
Ad executives say they are used to paying between $100,000 and $200,000 for similar mobile deals.
Earlier this month, Apple unveiled iAd, a software system to offer ads in the applications available in its App Store. Ads are likely to start appearing in applications on its iPhone and iPod Touch devices in June, and its iPad later in the year, according to the person familiar with the matter.