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

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Eddy Cue, Apple’s senior vice president of services, is considering restructuring Apple’s services business to focus more on streaming and advertising, according to a report from Insider† In its most recent earnings report, Apple said its services, including the App Store, Apple Pay, Apple News, Apple Music, Apple TV Plus and iCloud, added and earned 825 million subscribers. $19.8 billion in revenue

As part of the uproar, Cue has reportedly removed Peter Stern, Apple’s current vice president of services, from advertising 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 now reports directly to Cue after being promoted early this year. “The service portfolio is now too large, with too many other growing segments,” a source told Insider† “The advertising business is big enough to live on its own.”

Apple’s App Tracking Transparency policy, implemented last year, could have been a factor in the growth of Apple’s advertising business. The policy requires developers to ask users for permission to track various types of data. If you opt out, apps will not be able to use advertising tools to serve targeted ads.

if Insider notes, analysts report that the policy has pushed companies to spend more of their budget on App Store search ads rather than other products. It featured data from research firm Omdia, saying Apple grew its advertising business by 238 percent to $3.7 billion in 2021 compared to 2020 and forecasts the company will earn $5.5 billion in advertising this year alone. .

Apple even offers ad spaces during its Friday Night Baseball live streams, and it’s possible that Apple wants to expand its sports footprint even further. Insider mentioned that Apple could try to score broadcasting rights to the NBA, and there is a report of puck claim the acquisition of NFL Sunday Ticket streaming is a “deal done”. Apple did not immediately respond The edge‘s request for comment.

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