Amazon Ad Juggernaut: Prime Video Boosts Spending Exponentially

Amazon is making big moves in Australia, with their ad business on the rise. Their annual growth rate has shot up by 58% to a whopping $242 million, according to the latest ASIC filings. Even with video ads on Prime only being around for half of the year, it’s clear that Amazon is gunning for a bigger slice of the marketing pie. This growth trajectory is only expected to climb as Amazon sets its sights on full-funnel marketing budgets and a piece of the TV ad budget, while also ramping up spending through its ad stack at the expense of competitors. In addition to their advertising success, Amazon’s e-commerce sector is thriving too. Online store revenues saw a boost of 23.5%, hitting $1.94 billion, and third-party seller services revenue soared by 48%. Prime subscriptions also saw a significant increase, with revenue jumping by 38.8% to $480 million. It’s clear that Amazon is on the fast track to dominating the Australian market.