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.

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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]