Apple Cuts iAd Rates In Half, And It's Still Too High

steve jobs iad

Photo: Associated Press

Apple is cutting the price of its iAds by as much as 70%, Adam Satariano at Bloomberg reports.Apple was originally charging $1 million for an iAd buy. It was pricey, but some brands wanted to be associated with Apple.

Looks like brands don’t care anymore, or the ads just aren’t working, because Satariano says Apple is now offer iAds for $500,000.

If an agency signs up for multiple iAd campaigns, Apple is offering $300,000 per campaign.

Even at that price advertisers aren’t biting. Google and others offer similar ad packages for much less.

No matter how pretty Steve Jobs thinks iAds are, it seems like the next best thing is good enough in the world of advertising.

Or, as Rob Norman, CEO of GroupM North America, tells Bloomberg, “We’d all like to stay at the Four Seasons, but not if it costs $150,000 a night.”

Don’t Miss: Finally, Apple Has A Mediocre Product Launch

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at