updated 03:38 am EDT, Sun June 17, 2012
Mike Owen headed to video ad network AdColony
Yet another iAd executive has departed Apple. Mike Owen, senior manager of the iAd New York office, is leaving. He is headed to mobile video advertising network AdColony as its chief revenue officer. The iAd service has now seen three key departures in less than a year. Former head Andy Miller left last year for Highland Capital and was replaced by Todd Teresi. Lars Albright, iAd co-creator and former Quattro founder, left to form SessionM, a mobile advertising startup.
Apple's iAd service has reportedly had a hard time keeping advertisers engaged with the service. Last July, prices were slashed up to 70 percent in an effort to sign more, and keep existing advertisers. This winter, the minimum buy-in for an advertising campaign was cut from $1 million to $100,000 and developer payout was raised to 70 percent..
Apple's iAd Producer was updated in April to version 2.1, integrating Twitter. Despite the run of bad news in management, Apple's iAd service has seen some success -- it boasts such clients as Procter & Gamble, Absolute Radio, Campbell's Soup, Geico, Macy's, BMW, and Republican presidential candidate Mitt Romney.