updated 12:37 pm EST, Tue December 10, 2013
Hire hints at further push into streaming audio
Apple has reportedly poached an advertising executive, Michael Pallad, from Cumulus Media, unnamed sources have told Ad Age. After serving as executive VP of sales at the second-largest owner of FM radio stations, Pallad now is said to be tasked with overseeing international ad sales for Apple's iTunes Radio service.
The executive's hiring has been interpreted as a sign of Apple's commitment to expanding its presence and maintaining profitability in the streaming market. The company is reportedly focusing on large accounts willing to advertise for more than a year at a rate of more than $1 million.
Separate reports recently suggested Apple is preparing to ramp up its global expansion in 2014, bringing iTunes Radio to Canada, the UK, Nordic countries and Australia, among others. The company is believed to have already secured international rights, giving it a potential edge over streaming rivals such as Pandora.
Apple CEO Tim Cook in October boasted that iTunes Radio fetched more than 20 million listeners in just one month since its September launch, with over a billion songs streamed in the US alone.