Amazon beat Wall Street forecasts for profit and revenue in the first quarter as advertising continued to grow at a healthy clip.
11.04.2024 - 13:55 / deadline.com
Amazon CEO Andy Jassy saluted the company’s progress in video advertising in his annual letter to shareholders.
Overall ad revenue rose 24% in 2023 compared with 2022, he noted, reaching $47 billion and the growth was “primarily driven by our sponsored ads.” Amazon has added Sponsored TV to the mix, giving advertisers a self-service option that will inject their messages into more than 30 streaming services, including Amazon’s Freevee and Twitch.
Earlier this year, Jassy recalled, Amazon’s Prime Video started including ads on scripted shows and films. He pegged overall reach at 200 million monthly viewers across movies and shows, Amazon MGM originals and live sports including NFL Thursday Night Football. “Streaming TV advertising is growing quickly and off to a strong start,” he wrote.
Unlike Disney and Netflix, which have upped subscription rates for those preferring not to see ads, Prime Video introduced ads as a standard feature across its service. Any Prime member looking to avoid video ads has to pay an extra three dollars a month. As delicate as that message is to sell through with customers, it is a lucrative initiative. One Bank of America analyst’s forecast this year predicted the introduction of ads could soon bring in $5 billion in new annual revenue.
The letter was released as an SEC filing. In a separate filing, Amazon in its proxy statement said Jassy’s pay rose to $1.36 million in 2023 from $1.3 million in 2022. He received a stock award of about $212 million in 2021 as he took the CEO baton from Jeff Bezos.
The shareholder letter tackled a range of other topics, including a pages-long, business-school-ready discussion of “primitive services.” Jassy described “primitives” (for short) as “discrete,
Amazon beat Wall Street forecasts for profit and revenue in the first quarter as advertising continued to grow at a healthy clip.
Amazon’s Prime Video is so pleased with their upcoming Alex Cross series, Cross, they’ve renewed it for a second season.
Todd Spangler NY Digital Editor Amazon raked in $11.82 billion in ad revenue for the first quarter of 2024, topping analyst expectations, fueled by the ecommerce giant’s move to serve advertising by default in Prime Video in multiple markets. Advertising sales for the quarter were up 24% year over year and marked a new Q1 record. The revenue beat Wall Street expectations for the quarter of $11.7 billion, according to StreetAccount.
Fallout has become Amazon Prime Video's second most-watched series of all time.
Priyanka Chopra-Produced Doc Debuting On Prime Video India
Huge news for fans of the new series Fallout!
Amazon’s Prime Video has made a few decisions regarding their original slate of TV shows.
Viaplay shut its direct-to-consumer service in February, but the Scandi streamer is still active in the U.S.
Todd Spangler NY Digital Editor Viaplay‘s streaming service — specializing in award-winning Scandinavian series and films — is now available as an add-on subscription on Amazon‘s Prime Video Channels in the United States. Starting Wednesday, Prime members in the U.S.
Outer Range is returning for a second season on Prime Video!
Prime Video has released the official trailer for the second season of Outer Range, the Josh Brolin starrer that follows a rancher who discovers an unfathomable phenomenon at the edge of Wyoming’s wilderness.
Callum McLennan Comedy docuseries “The World’s Strangest Jobs,” from Johannesburg-based Mannequin Pictures, one of South Africa’s key production, finance, and distribution companies, has sold to Prime Video the rights to the African continent. Mannequin is now pursuing sales in all other territories. The eight-part series is hosted by comedian and actor Schalk Bezuidenhout.
Longtime NBC ad sales executive Krishan Bhatia has landed at Amazon as VP, Global Video Advertising Sales, a new position for a new team within ad sales focused on streaming TV offerings across live sports, Amazon Freevee, Twitch, Prime Video ads, and third-party publishers.
EXCLUSIVE: Amazon has acquired world rights for Beirut-set dramedy series Self Modulation from producers Falcon Films and Arna Media, in its first ever Arabic TV series acquisition.
Michaela Zee “Fallout” is stepping out of the vault earlier than originally planned. Prime Video has announced that “Fallout,” adapted from the retro-futuristic video game franchise of the same name, will premiere all eight episodes on April 10 at 6 p.m. PT.
UPDATE APRIL 8: Prime Video has moved up the premiere of its high-profile new drama series Fallout, from Westworld creators Jonathan Nolan and Lisa Joy, based on the worldwide best-selling retro-futuristic video game franchise. All eight episodes of the post-apocalyptic series will premiere April 10 at at 6 PM PT. The surprise drop was revealed in a new Fallout ad that aired during Monday’s NCAA Men’s Basketball Championship Game. The drama had previously been slated for April 12 debut.
Ride’s Andy Bell has weighed in his thoughts on the possibility of an Oasis reunion, and said that he thinks Noel and Liam Gallagher “probably will” get back together.The comments arose in a new interview that the musician took part in with Virgin Radio, where he spoke about his upcoming tour with the recently reunited band, Ride.While emerging into the spotlight with bands Ride and Hurricane, Bell went on to join the Britpop icons after both previous projects split – taking on the role of bassist, despite being a guitarist originally. He joined the line-up in 1999 and remained in the group until the band split in 2009.“I got into [Oasis] very early on, and I saw some really early gigs of theirs… I saw them upwards of ten times all around the country, so yeah, I’m a huge fan,” he told the outlet, going on to recall how he eventually joined the band.“It was a couple of years after Ride split, and I was in a new band called Hurricane.
Emiliano De Pablos After 12 seasons on linear TV, flagship Spanish talent show “Operación Triunfo,” produced by Banijay Iberia’s Gestmusic, has jumped successfully to the online environment via Prime Video. “Operación Triunfo’s” first gala was the most viewed premiere in the history of Prime Video in Spain. Its app for voting accumulated 53 million votes and, on social networks, generated 718.9 million views in TikTok and YouTube, according to VOD analytics Sigmados30.
With the popularity of women’s basketball on the rise, Prime Video and the WNBA have reached an extension of their current rights deal through the next two seasons.
Todd Spangler NY Digital Editor Women’s pro hoops are coming back to Amazon‘s Prime Video for at least two more years. Prime Video and the WNBA on Friday announced a rights renewal deal under which Prime Video will continue to be the exclusive U.S. streaming partner for a package of 21 games each season, including the Championship Game of the WNBA Commissioner’s Cup.