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Apple Maps App to Introduce Advertising Features
Investing.com – According to Bloomberg on Monday, Apple is preparing to introduce advertising features in its Maps app as part of its efforts to generate more revenue from its services business.
The announcement is expected to be made as early as this month. The system will operate similarly to Google Maps ads, allowing retailers and brands to bid for search query ad placements.
The plan will enable restaurants to bid on search terms like “sushi.” When users search for that type of food, the highest bid will have its ad appear at the top of the search results. Google and Yelp Inc. have also adopted similar methods on their platforms.
According to Apple’s plan, these ads will start appearing as early as this summer in the Maps app on iPhone and other devices, as well as on the web.
The increase in ad revenue will further boost Apple’s services business, which currently generates over $100 billion annually. This segment now accounts for more than a quarter of the company’s total sales, up from less than 10% a decade ago.
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