Expect to see more ads on your iPhone in the future as Apple aims to triple its ad revenues

Apple knows it cannot rely on iPhone sales forever and it aggressively looking to diversify its revenue streams. One way is to expand its ad business.

Apple currently gets around US$4 billion (S$5.5 billion) from ads a year and these ads typically appear in the App Store, Apple News, Apple Stocks, and commercials during MLB Friday Night baseball streams.

And according to Mark Gurman's Power On newsletter, Apple aims to triple that figure and bring its ads business into the "double digits."

Gurman believes Apple can do so in a few ways. To start, it could offer ads on its Maps app so that paying businesses would appear at the top of search results.

Other potential places where Apple could place apps would be within its Podcasts and Books app. Again, this would allow paying businesses to appear at the top of search results.

It's worth mentioning at this point that the Maps, Podcasts, and Books are currently ad-free.

Finally, Apple could also create a lower-priced ad-supported tier for its Apple TV+ video streaming service, something that both Disney and Netflix plan to do by this year.

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This article was first published in HardwareZone.