According to analyst Krish Sankar, Apple’s news and magazine subscription service Apple News Plus could reach 19 million paid subscribers by 2023.

Krish Sankar, analyst at investment bank Cowen, stated that Apple News Plus had approximately 11 million paid subscribers in 2020 and generated approximately $ 550 million in revenue.

Sankar believes that Apple News Plus can reach 19 million subscribers by 2023. Apple Insider reported that in this case, the company could generate $ 1.02 billion in digital ad revenue from $ 1.14 billion in subscription revenue and ad impressions, totaling $ 2.2 billion.

Apple News is on its way
Sankar said: “We believe that the Apple News app and the News Plus paid subscription service (News platform) are well positioned not only to take advantage of growing subscriber numbers, but also to accelerate ad revenue growth.” said.

The analyst believes that Apple News Plus can be supported both by improving ad platforms and by moving away from the Identifier tracking tag for Advertisers used on mobile devices after the launch of App Tracking Transparency.

Sankar stated that the privacy feature could be a “devastating event” for ad networks in the iOS ecosystem. The analyst also points out that Apple’s advertising efforts may be in an encouraging trajectory as Apple Search Ads (ASA) mature in the App Store.

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