We haven’t spotted many ads so far in Apple’s (AAPL) two-week-old iPhone app platform. But that could change soon: Mobile ad network AdMob is opening its network up to iPhone app developers, and is giving away $1 million of free advertising to get developers to use it.
The key difference between AdMob and other iPhone app-focused ad networks we’ve seen so far: It already has a host of big-name advertisers and publishers signed up. Initial advertisers include Ford, Electronic Arts, Land Rover, Jaguar, and Universal Pictures, and app publishers include AccuWeather, MovieTickets.com, and Loopt. Which means developers won’t waste their time with low-payment, remnant ads, and advertisers will (in theory) get their ads on decent apps.
Pay-per-click ads start at 30 cents; AdMob expects the market to settle around 40-50 cents per click, and is offering developers a 50% cut. Brand ads cost a minimum $30 per 1,000 impressions (CPM), and AdMob takes a 40% cut.