Apple has cut its rates for its iAd mobile advertising platform once again in an effort to attract more advertisers, according to a new report. Citing two people with knowledge of the matter, Bloomberg reports that Apple’s move comes as some of its most well-known clients are using rival services that offer access to a wider base of users.
The report notes that Apple is now offering packages for as little as $300,000, down 70% from the initial minimum ad purchase of $1 million, and 40% from the more recent price of $500,000. The cheaper rate is reportedly being offered to agencies which bring together multiple campaigns.
As noted in the report, Apple has hired former ad agency executive Carrie Frolich to help attract new advertisers, and has also launched iAd Producer, an online tool that helps agencies design ads more quickly.