Analyst: Apple News+ could hit $2.2 billion in revenue by 2023

In a note to clients — as reported by AppleInsider — lead Cowen analyst Krish Sankar, lead analyst at the investment bank Cowen — predicts that Apple News+ could grow to US$2.2 billion in revenue by 2023, a compound annual growth rate of 31%.
“We believe Apple’s News app and the News+ paid subscription service (News platform) are well positioned to not only benefit from incremental subscriber additions but also accelerating advertising revenue growth,” he wrote.
Sankar feels that Apple News+ could be bolstered by both improving advertising platforms and a shift away from the Identifier for Advertisers tracking tag used on mobile devices after the release of App Tracking Transparency. The privacy feature, could be a “disruptive event” that levels the playing field for ad networks in the iOS ecosystem, he adds.
Apple News is a mobile app and news aggregator for iOS, iPadOS, and macOS. It costs US$9.99 per month. It’s also part of Apple’s bundled subscription service that offers three tiers that, depending on the tier, includes Apple TV+, Apple Music, Apple News+, Apple Arcade, Apple Fitness, and iCloud. 
The post Analyst: Apple News+ could hit $2.2 billion in revenue by 2023 appeared first on MacTech.com.