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Apple Maps likely to show sponsored search ads on iPhones from next year: Reports

This comes as Apple is aiming to triple its earnings from ads by including more apps in its advertising bucket

In a bid to increase its ad revenue, Apple is likely to include display search ads, rather than banner ads, on Apple Maps in the coming year, according to a report by Bloomberg.

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According to the Bloomberg report, the tech giant has already begun work on introducing search ads in their Maps app and is likely to deploy sponsored search results ads in the coming year.

Apple is not the only one to introduce search ads as Google Maps, Waze and Yelp have already resorted to including search ads earlier.

In fact, Apple had also allowed display search advertising on its App Store earlier to enable app developers to pay to advertise their apps to consumers who perform relevant keyword searches.

Moreover, Apple also plans to showcase display ads in the ‘Today’ page of the App Store and introduce a new ‘You Might Also Like’ area at the bottom of app listings, as per the report.

Apple's News and Stocks apps already allow banner advertising at the moment.

Bloomberg had earlier pointed out that the American tech giant intends to grow its advertising business, which generates revenue worth approximately $4 billion, and that Todd Teresi, VP-Advertising Platforms, Apple, hopes to eventually raise the company’s ad revenue by three times.

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