- Apple SVP Eddy Cue is reportedly restructuring the services management operations at the company. These are the details.
Apple Inc (NASDAQ: AAPL) senior vice president of services Eddy Cue is reportedly restructuring the services management operations at the company in order to focus more on streaming and advertising, according to a report from Business Insider.
Cue believes that streaming and advertising are potential areas where there are opportunities for the company to see significant revenue growth. These are some of the changes that were made.
– Peter Stern – Apple’s VP of Services will no longer handle advertising. This will enable Stern to focus more on news, video, books, iCloud, Fitness+, And Apple One.
– Todd Teresi – Advertising VP at Apple – will handle more responsibilities. And Teresi started reporting directly to Cue at the beginning of the year.
Recently, Apple attained the rights for Friday Night Baseball after a deal was signed with Major League Baseball. Apple is aiming to sign more sports deals and there are rumors that Apple is pushing to secure the NFL Sunday Ticket package. Plus Business Insider noted that Apple wants to gain the rights for NBA games.
For the second quarter of 2022, the services division at Apple generated $19.8 billion in revenue compared to $17 billion in the same quarter a year earlier. Plus there are rumors that Apple will be launching a hardware subscription service and Apple Pay is reportedly going to gain a “buy now, pay later” feature. Plus there are reports that Apple considered adding an Instacart-like feature that would also integrate with nutrition data within the Health app.
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