Along with yesterday's iPhone announcement, Apple also talked about said its iAd mobile advertising network. This is now set to debut on 1st July 2010. iAds will be available on iPhone and iPod touch devices running the new iOS 4 software platform and will appear within certain applications. App developers who join the iAd Network will receive 60% of iAd Network revenue.
Apple says companies have already committed to over $60 million of iAds this year. The first campaigns will involve AT&T, Best Buy, Campbell Soup Company, Chanel, Citi, DirecTV, GEICO, GE, JCPenney, Liberty Mutual Group, Nissan, Sears, State Farm, Target, Turner Broadcasting System, Unilever and The Walt Disney Studios.
Steve Jobs, Apple’s CEO, said "iAd offers advertisers the emotion of TV with the interactivity of the web, and offers users a new way to explore ads without being hijacked out of their favorite apps. iAds will reach millions of iPhone and iPod touch users — a highly desirable demographic for advertisers — and provide developers a new way to earn money so they can continue developing free and low cost applications."