Amazon Rumored To Exceed $1.8B Video Streaming Ad Target
Amazon has reportedly recently exceeded its $1.8 billion advertising goal for its video streaming service.
Amazon has reportedly recently surpassed its $1.8 billion advertising goal for its video streaming service. During the just-concluded 2024 Ad Placement Marketplace, advertisers finalized a slew of TV and streaming ad deals for the next 12 months.
These deals include ads on the Prime Video platform and Amazon's live sports programming covering the NFL's Thursday Night Football games.
Amazon is betting on sustaining its ad revenue growth by investing in streaming TV and fighting for a significant share of ad budgets amid a gradual shift in ad budgets to streaming video services.
Earlier this year, the company debuted its advertising business on the Prime Video platform, and in July, Amazon, ESPN (part of The Walt Disney Company) and NBCUniversal (part of Comcast) struck an 11-year deal for the rights to broadcast National Basketball Association (NBA) games in a deal totaling $77 billion.
The deal further enriches Prime Video's ever-expanding live sports content, including NFL and NASCAR events, which will be added in 2025.
Notably, Amazon's ad revenue came in at $12.8 billion in its second quarter earnings report this year, below the average estimate of $13 billion, highlighting the company's increased competition with Meta and Google.
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