Amazon Ads global revenue in the third quarter of 2023 hit over $12 billion (£9.8 million), exceeding initial predictions and representing a 13% quarterly growth and a 25% YOY.
Partnering with media companies like Pinterest and BuzzFeed, the platform’s advertising arm credited its success to the “durable growth” in ad revenue from its sponsored products specifically.
Amazon Ads chief financial officer Brian Olsavsky also added that the US tech giant’s ad unit’s achievements were due to the use of machine learning to “improve the relevancy of the ads we show our customers and enhance our measurement capabilities on behalf of advertisers.”
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Prime Video also performed well, with chief Andy Jassy acknowledging that the streaming service was in fact “often one of the top two drivers of customers signing up for Prime.”
Rumours of more ads coming to the streaming service in 2024, Jassy added “We aim to have meaningfully fewer ads than linear TV and other streaming TV providers.
Pointing to other achievements, revenue from Amazon’s cloud provider Amazon Web Services (AWS) was also up, at £19 billion ($23.1 billion) in Q3, an increase of 12% YOY.
The platform has recently launched a generative AI image-generation tool for its advertising customers.
It comes amid Amazon Ads announcing earlier this week new measurement features, giving advertisers more control.
