Amazon ‘encouraged’ by response to streaming advertising

Chris Pash
By Chris Pash | 3 May 2024

Amazon’s advertising business surged in the March quarter, reporting stronger growth than its main online retail business.

Advertising services grew 24% to $US11.8 billion in the March quarter.

Overall, the giant retailer reported net sales up 13% to $143.3 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.

“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.”

Jassy said the strength in advertising was primarily driven by sponsored products, supported by continued improvements in relevancy and measurement capabilities for advertisers. 

“We still see significant opportunity ahead in our sponsored products, as well as areas where we're just getting started like Prime Video ads,” he said. 

“Prime Video ads offers brands value as we can better link the impact of streaming TV advertising to business outcomes like product sales or subscription sign-ups, whether the brands sell on Amazon or not.

“It's very early for streaming TV ads but we're encouraged by the early response.”

He said advertisers were excited about being able to expand their ability to advertise with Amazon in video.

“I think they also find that the relevancy and the measurability of that type of advertising and Prime Video ads is unique for them,” he said.

“So, it's off to a very good start. It's early days, but we're optimistic there.”

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