Apple cuts iAd rates

Slashes up to 70 per cent off in response to cheaper rivals.

Bloomberg has reported that Apple is losing out to other ad networks such as AdMob, Millennial Media and Greystripe, which address more devices and are starting to offer the kind of rich media options that iAd introduced.

Apple has certainly been expensive. It was widely reported a year ago when iAd launched that clients were being charged $1 million or more to run campaigns despite the limited reach of a single-device network.

Today it's been reported that these campaigns are going for as little as $300,000.

Bloomberg says that the ad exchanges Mobclix disclosed that app makers are getting between five and 15 percent of their space filled by the Apple system.

Apple remains bullish, reminding that iAd launched more than 100 campaigns in seven countries in its first year, and that 50 campaigns will be joining the platform in the coming months.