Amazon has announced an enormous $143 billion USD in revenue… for just 3 months.
👉 Background: Amazon is the company that famously didn’t record a profit for its first 10 years as a company. Since then, it's gone onto create its enormous marketplace, cloud services and its Prime Video - amongst many other features.
👉 What happened: Now, Amazon has announced a better-than-expected revenue for the most recent quarter. We’re talking an enormous $143 billion USD in revenue… for just 3 months. That's 13% more compared to last year's revenue.
👉 What else: But that's not all - the Zon’s profit was 16% higher than expected thanks to ad revenues. In particular, it was from those little “sponsored” products on Amazon’s marketplace and its ad-supported Amazon Prime video.
💡Streaming services are flipping the script - going from their ad-free origins to their ad-supported futures.
💡 Get this: The average Australian spends about 10.5 hours each week watching subscription videos on demand from services like Netflix and Stan…while at the same time, free to air viewership has dropped according to OzTam. So as soon as streaming services achieved market dominance, they did a 180 on their financial model.
💡 And with more than 115 million monthly Prime Video viewers in the US alone, it’s no surprise its ad revenue spiked rapidly.
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