Apple restructuring services team to focus on streaming and advertising

Eddy Cue, Apple's senior vice president of services, has decided to shake some things up.

According to a new report from Business Insider (via MacRumors), the executive is restructuring the services team to focus more on streaming and advertising. Cue reportedly sees both as key areas for growth and has made executive-level changes in order to provide more focus in both areas.

One source said that Apple's advertising business is now "big enough to live on its own."

Cue sees streaming and advertising as areas where there is opportunity for revenue growth, and he has already begun updating the responsibilities of key services executives. Peter Stern, Apple's vice president of services, is no longer handling advertising, giving him more time to focus on video, news, books, iCloud, Fitness+, and Apple One.

Todd Teresi, an advertising vice president at Apple, will instead be taking on more responsibility and has been reporting directly to Cue since the beginning of the year. One of the sources who spoke to Business Insider said that Apple's ad business is now "big enough to live on its own."

As far as what Apple might be going after with streaming, the report focuses in on sports. Apple TV+, which recently acquired the rights to Friday Night Baseball, is also rumored to potentially serve as the destination for NFL Sunday Ticket and some NBA games.

In addition to Apple's current services lineup, the company is also rumored to be working on a hardware subscription service as well as a "buy now, pay later" financing service through Apple Pay.