With iAd still struggling, Apple again slashes minimum spend

In an effort to attract more advertisers and to compete with major players like Google, Apple has once again slashed the minimum spend required by campaigns on its iAd mobile advertising platform. The figure has now dropped to $100,000 according to a report from AdAge, just 10% of Apple’s original requirement. The Cupertino-based company initially required advertisers to spend a minimum of $1 million per campaign on its iAd platform, eventually cutting the price in half to $500,000 and then settling on $300,000. In addition to the reduced spending fee, Apple is looking to woo app developers by reducing the company’s cut of iAd profits from 40% to 30%. Apple has been losing share in the mobile ad market as Google continues to march forward. The search giant took in 24% of the $630 million in mobile ad revenue in the U.S. last year, up from 19%. Millennial Media placed second with 17% of the market and Apple was No.3 with a 15% share, down from 19% in 2010.

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