Business report

Apple sees ‘significant increase’ in ad business, report says (NASDAQ:AAPL)

DKart

Apple (NASDAQ: AAPL) saw a “significant increase” in ad activity following the release of its app tracking transparency initiatives, according to a recently published report by Appsumer.

The report, which examined online ad spending by more than more than 100 different consumer application companies from North America and Europe, have found that the adoption of Apple (AAPL) of Search Network ads increased nearly four percentage points to 94.8%.

Conversely, the adoption of Meta Platforms’ (NASDAQ: META) Facebook fell 3 percentage points to 82.8%. Adoption for Google (NASDAQ:GOOG) (GOOGL) also fell two points to 94.8%.

Additionally, Appsumer found that Apple Search Ads (AAPL) now held 15% share of wallet, up five percentage points, thanks to the advantage of first-party data on iOS for measurement and targeting. . Conversely, Meta’s share of wallet (META) fell four percentage points to 28%. The report, however, notes that there was an increase in early 2022, suggesting that the company is “beginning to recover” from the ATT-inspired headwinds it has faced.

In contrast, Snap (NYSE: SNAP) lost 50% of its wallet share to 2% and adoption fell three percentage points to 32.7%. Appsumer added that Snap (SNAP) could reclaim its wallet share as adoption growth continues to increase.

TikTok, owned by China’s ByteDance (BDNCE), saw advertiser adoption drop nearly seven percentage points to 43.2%, although their wallet share remained stable at 3%.

“There is a clear divide between the success of large advertisers and the struggle of small advertisers,” Shumel Lais, chief executive of Appsumer by InMobi, said in a statement. statement.

The report comes as Apple (AAPL) reportedly seeks to expand its advertising workforce.

Citing data from LinkedIn, the FinancialTimes reported that Apple (AAPL) has about 250 people in its advertising 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 ad revenue to “double digits” from the roughly $4 billion it generates a year.

Apple (AAPL) may start serving ads on Apple Maps, Apple TV+, Apple Books and more. Currently, the tech giant is integrating advertising into its News app, Stocks app, and App Store.

It also has advertising in its Apple TV+ app for its Friday Night Baseball deal.

Apple (AAPL), based in Cupertino, Calif., is expected to hold a product event tomorrow, where the tech giant is expected to announce new product lines for its iPhone, Apple Watch and AirPods.