Now that the first run of iAd campaigns has concluded, AllThingsD is reporting that Apple has decided to cut the minimum required spending in half from a steep $1 million to $500,000. The change has presumably been made because whilst it has been reasonably successful, the number of ads being presented and filling ad spots actually decreased this year. As a result Apple may be wanting to attract some smaller scale advertisers which couldn’t afford to enter the platform previously and fill those ad spots.

Mark Read, the CEO of global ad giant WPP told AllThingsD that “this new minimum buy is a great step forward and a necessary one, I think. Lowering the minimum buy to $500,000 from $1 million will certainly make the platform more appealing.” Furthermore Read noted that Apple wasn’t necessarily gunning for television ad budgets but “brand budgets” and that they want iAds to become part of the net advertising budget by “offering access to this developing mobile demographic, which is a pretty valuable one.”

Apple has claimed that its iAd’s platform had over 60 successful brand campaigns and a perfect 100% renewal rate. But developers who were utilizing iAds, began to express some disappointment by the number of potential ad spots that weren’t being filled earlier this month.

[Via AllThingsD]