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Amazon Says Video And Music Spending Rose 14% In 2023
Amazon said its spending on video and music content grew 14% in 2023, reaching $18.9 billion. The figure, disclosed Friday morning in the company’s annual report filed with the SEC, includes …
Wide-appeal movies like Candy Cane Lane went straight to Prime Video, while the star-studded Air received Amazon’s most extensive theatrical release yet before heading to streaming. The company is seeing brisk sales and increasing viewership for its NFL streams, and has also just started rolling out ads on scripted programming on prime. During the company’s quarterly earnings call with Wall Street analysts Thursday, CFO Dave Olsavsky said the expansion of ads is “an important part of the total business model.”
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