Apple has cut the minimum purchase price for advertisers on its mobile iAd network from $1 million to $500,000 in an effort to appeal to smaller companies and help broaden the mobile advertising platform, according to All Things Digital.

The new entry point is $500,000, a significantly smaller commitment, particularly for smaller brands and agencies that are creating and producing their own iAds.

When Apple introduced iAds last year they thought it would be a huge success despite some believing it would be a flop, and although Apple is claiming over 60 successful iAd campaings so far they're also seeing low fill rates and other developer complaints.

Cutting the initial asking price in half should allow more eligible parties to participate in the iAd program, but do you think it will be enough to make iAds a full success for Apple? Let us know in the comments!

[Digital Daily]