Amazon Q2 Ad Revenue up 20% to $12.8 Billion, Short of Wall Street Forecasts
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variety.comTodd Spangler NY Digital Editor Amazon‘s initiative to insert ads into Prime Video helped drive its advertising revenue up 20% for the second quarter of 2024 — but it was less than analysts expected.
The company reported ad sales of $12.77 billion for the period, up 20%. Analysts were anticipating the tech giant to generate $13 billion in ad revenue, according to StreetAccount.
In April, Amazon president and CEO Andy Jassy announced that Prime Video had surpassed 200 million monthly viewers and touted the service’s addition of advertising (enabled by default unless users pay an extra fee) starting in January.
The company recently spruced up the user interface for Prime Video, aimed at boosting engagement with the streaming service.
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