Apple is cutting the price of iAd campaigns. Advertisers will now spend about $100,000 for mobile campaigns that are run on iPad and iPhone apps, rather than $500,000 to $1 million. Apple will also be giving a bigger cut to its app developers, who will now receive 70% ad revenue from iAds that run on their apps. The iAds service was launched in 2010.
At a launch event on April 10, for Apple's latest operating system for iPhones, Steve Jobs also announced an advertising platform called iAd in which Apple will sell and host ads to run on apps made by outside developers, who will get 60 percent of the ad revenue.