According to an analyst, Apple News Plus which is Apple’s news and magazine service is all set to reach 19 million paid subscribers by 2023. The analyst, Krish Sankar is positive that Apple News Plus had about 11 million paid subscribers in 2020 and brought in a revenue of $550 million.
According to Apple Insider, the Investment bank Cowen analyst believes that Apple might be having 19 million subscribers by 2023. This would bring in a revenue of $1.14 billion in subscription along with a revenue of $1.02 billion in digital ad revenue from ad impressions thus adding up to a total of $2.2 billion.
Sankar wrote, “We believe Apple’s News app and the News Plus paid subscription service (News Platform) are well-positioned to not only benefit from incremental subscriber additions but also accelerating advertising revenue growth.”
Sankar believes that the app could be propped up by improving advertising platforms. It can also be propped up by shifting away from the identifier for advertisers tracking tags used on mobile devices after the release of App Tracking Transparency.
The report mentions that the analyst further says that the privacy feature might be a “disruptive event” that makes the field for ad networks at the same level for an iOS environment.
Further, he adds that the advertising ventures of the company might see growth because of the development of Apple Search Ads (ASA) on the App Store. Apple supporting ASA along with the recent developments made to IDFA will boost the ad revenue from Apple News in the next few years.