iphone maker Apple has reduced the entry level prices for its iAd mobile advertisement platform by half in order to attract more companies.
The iAd platform was launched alongside iOS 4 and was aimed at further monetising the iOS ecosystem by creating a mobile advertising network.
Thanks to Apple's rigid iAd policies and the $1 million entry level price, Apple has failed to attract advertisers to its platform.
According to All Things Digital, the price cut is aimed at attracting smaller brands and agencies.
Mark Read, CEO of WPP Digital, said in a statement, “This new minimum buy is a great step forward and a necessary one, I think. Lowering the minimum buy to $500,000 from $1 million will certainly make the platform more appealing.”
Apple claims that iAd has had more than 60 brand campaigns and a 100 percent renewal rate but developers believe that the platform has a slow adoption rate.
Android has become the world's top-selling smartphone platform over the past year, according to research firm Canalys. This has also seen Millennial Media's mobile ad network overtake iOS as the top smartphone system on the mobile advertising side.
Lowering the minimum entry to $500,000 will make some companies reconsider iAds, but it is still very much geared towards larger brands for whom such an outlay may be feasible.