The gap between linear cable and OTT is constantly decreasing, especially with the addition of advertisement spices; it all tastes the same. Though this compromise may affect user experience, OTT platforms are filling their pockets with the new flow of advertisement money, and Prime Video is one of the prime beneficiaries of this trend.
As the first-quarter reports are in, Amazon is enjoying a massive rise in advertisement revenue, reporting a 24% increase. In terms of numbers, the revenue is as high as $11.82 billion, with the majority of it coming from the contribution of Prime Video.
Regarding the CEO’s reaction, Andy Jassy stated, “Our advertising efforts continue to benefit from the growth of our Stores and Prime Video businesses. It’s still early for streaming TV ads, but we’re encouraged by the response.”
The growth is also a result of the cheaper plans. Like most OTT platforms, Prime Video reports having more than 200 million users and expects further growth in the upcoming semester. Additionally, the expanding library of Prime Video is contributing massively to the platform’s growth.
Jassy highlighted rapid growth in streaming TV advertising and praised Prime Video’s exclusive content, including NFL games, “Lord of the Rings,” and original series like “Reacher” and “The Boys.” Amazon will stream its first NFL Wild Card playoff game on Prime Video in January 2025, which, combined with the already 115 million users in the USA market, will likely lead to further revenue growth.
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