Will Apple change the face of advertising?

Apple recently launched its new mobile ad platform, iAds. The new ad platform will revolutionize mobile advertising by serving rich and immersive ad experiences to the iPhone, iPods, and iPads. Steve Jobs was quoted “…the company is looking to change the face of advertising”

The benefits of brilliant graphics, touch-screen interactions, and the abundance of media choices creates a user experience like never before. Similar to an expandable banner users can tap/click to engage with the ad. As the ad takes over the screen, users can play a game, watch a video or access more information. You will even be able to make a purchase and then resume to what your were doing before you clicked on the ad.

Hands down this is a game changer but there are a few concerns.

At launch Apple will execute all creative, with client oversight and approval. This needs to change.

Packages start at $1mm or more. While that is the pitch, the rumor is some brands got on-board for low hundreds-of-thousands.

Cost one cent per impression ($10 CPM) and $2 per click. AdMob or Greystripe might be a better “experiment” for mobile ads.

Continuous connectivity of a mobile device creates more opportunities of engagement through informational updates, integrated messages, and anytime or anywhere access to your consumer. While the cost factors may inhibit certain brands, the opportunity lies with creating a new ecosystem of engagement.

Last Media Daily News (Media Post) recently reported according to ABI Research mobile display will increase from $313 million in 2010 to $1.2 billion in 2015.

Click here to learn more about the iAd Network from Apple’s press release.