Amazon advertising soars 24% in Q1 2024
Amazon today reported a strong first quarter of 2024, with its advertising business demonstrating impressive growth. Advertising revenue jumped 24% year-over-year to $11.82 billion.
Amazon today reported a strong first quarter of 2024, with its advertising business demonstrating impressive growth. Advertising revenue jumped 24% year-over-year to $11.82 billion. This significant rise reflects the increasing role advertising plays within Amazon's expanding ecosystem.
The report shed light on Amazon's strategy of integrating advertising solutions across its online stores and Prime Video platform. This approach allows them to capitalize on the growing number of users and their engagement within the Amazon ecosystem. Advertisers benefit from access to a vast audience and the ability to deliver targeted campaigns.
“Our Advertising efforts continue to benefit from the growth of our Stores and Prime Video businesses," said Andy Jassy, Amazon President and CEO. "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.”
The growth of Amazon's Stores and Prime Video platforms presented significant opportunities for the company's advertising business. Amazon Advertising is leveraging these platforms to reach a wider audience with targeted solutions. Meanwhile, Prime Video's original content strategy continues to be a success, with releases like "Fallout" and "Road House" poised to drive further viewership.
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