Amazon Saw Ad Revenue Jump to $11.8 Billion After Adding Ads to Prime Video




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A few months ago Amazon added ads to Prime Video unless you pay an extra $2 a month to avoid them. That seems to have helped Amazon push up ad revenue in the 1st quarter of 2024 24% to $11.8 billion.

“It was a good start to the year across the business, and you can see that in both our customer experience improvements and financial results,” said Andy Jassy, Amazon President and CEO. “The combination of companies renewing their infrastructure modernization efforts and the appeal of AWS’s AI capabilities is reaccelerating AWS’s growth rate (now at a $100 billion annual revenue run rate); our Stores business continues to expand selection, provide everyday low prices, and accelerate delivery speed (setting another record on speed for Prime customers in Q1) while lowering our cost to serve; and, our Advertising efforts continue to benefit from the growth of our Stores and Prime Video businesses. It’s very early days in all of our businesses and we remain excited by how much more we can make customers’ lives better and easier moving forward.”

Over all Net Sales at Amazon increased 13% to $143.3 billion in the first three months of 2024 up from $127.4 during the same period of 2023. Amazon expects sales to hit $144 billion and up to $149 billion in the 2nd quarter of 2024.

Amazon added that it had no plans for additional business acquisitions, restructurings, or legal settlements in the 2nd quarter of 2024.

Amazon will hold an earnings call later today. Cord Cutters News will have full coverage of any interesting news that comes from that call.

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