A longtime NBC executive is joining Apple's growing advertising team, which could signal Apple TV+ is following suit with other streamers.
Apple TV+ is the last major streaming service that doesn’t have an ad-supported tier, but that seems poised to change. Apple just hired a 14-year ad executive from NBCUniversal, Joseph Cady, to further beef up its growing video advertising team, according to a report from Business Insider Monday. The report details how Cady will join several other former TV executives who now lead Apple’s advertising unit.
Many assumed that Amazon and Apple didn’t need ads like other streamers, because streaming is just a bonus to their services, though Amazon proved that assumption to be wrong. Barclays analyst Tim Long predicted in 2023 that Apple would lose billions of dollars on creating content for streaming for years to come, according to a report from Barron’s. Apple may have been able to afford these losses initially, but Long notes that Apple needs to introduce an ad tier to meaningfully boost revenue.
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