Taboola scores Apple advertising deal, shares surge

Taboola.Com

16/07/2024 17:21

July 16 (Reuters) - Taboola.com  TBLA.O  has secured a
deal with tech giant Apple  AAPL.O  to integrate native
advertising into the Apple News and Apple Stocks apps, the
digital advertising company said on Tuesday, sending its shares
up almost 11%. 
    The agreement strengthens Taboola's portfolio of reselling
contracts with one of the world's most well-known brands and
gives Apple an opportunity to expand its advertising business.
    The New York-based company will manage native advertising
across both platforms globally and has been authorized as an
advertising reseller.
    Native advertising involves crafting ads that blend with the
platform where they are displayed.
    Taboola will now be able to sell ads within the feeds and
articles for select publishers across the apps, according to
data available on Apple's developer website.
    The deal was first reported by Axios. 
    Apple did not immediately respond to a Reuters request for
comment. 
    While the iPhone maker does not disclose its advertising
revenue separately, analytics firm eMarketer estimates Apple's
ad revenues could total $10.34 billion in 2024. 
    Needham analysts noted last week that Apple stands to
benefit from expanding its advertising business, which can help
drive margin improvements without raising device prices.
    In June 2022, Apple had expanded an exclusive advertising
reseller arrangement in the U.S. with Comcast's NBCUniversal
media unit to the UK for an undisclosed duration. 


 (Reporting by Arsheeya Bajwa and Harshita Mary Varghese in
Bengaluru; Editing by Tasim Zahid)
 ((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800;))