Eddy Cue reportedly has bigger plans for Apple’s multi-billion dollar streaming and ads business

Eddy Cue, Apple’s senior vice president of services, is considering restructuring Apple’s services business to focus more attention on streaming and advertising, according to an Apple report insider. In its latest earnings report, Apple said its services, which include the App Store, Apple Pay, Apple News, Apple Music, Apple TV Plus and iCloud, added 825 million subscribers and generated $19.8 billion in revenue.

As part of the reorganization, Cue reportedly retired Peter Stern, Apple’s current vice president of services, to focus solely on its services division. Sources close to the situation told insider that Todd Teresi, Apple’s vice president of advertising platforms, has taken over Stern’s previous advertising responsibilities and will now report directly to Cue after being promoted earlier this year. “The services portfolio is too big now, with too many other growing segments,” a source said insider. “The ad business is big enough to make a living off of it.”

Apple’s app tracking transparency policy, introduced last year, may have been a factor in the growth of Apple’s ads business. The policy requires developers to ask users for permission to track various types of data – disabling prevents apps from using advertising tools to deliver targeted advertising.

When insider notes that analysts report that the policy has prompted companies to spend more of their budget on App Store search ads instead of other products. It included data from research firm Omdia that said Apple grew its ad business by 238 percent to $3.7 billion in 2021 compared to 2020, and forecast the company to grow $5.5 billion this year alone -will make dollars from ads

Apple even offers ad slots during its Friday Night Baseball live streams, and it’s possible that Apple wants to expand its sports presence even further. insider mentioned that Apple could try to secure broadcast rights for the NBA and there was a report from puck Claiming NFL Sunday Ticket Streaming purchase is a ‘closed deal’ Apple didn’t immediately respond The edge‘s request for comment.

https://www.theverge.com/2022/5/10/23065290/apple-streaming-advertising-services-peter-stern-eddy-cue Eddy Cue reportedly has bigger plans for Apple’s multi-billion dollar streaming and ads business

Fry Electronics Team

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