financetom
Business
financetom
/
Business
/
Amazon tops $1.8 bln ad-spending commitment target for video-streaming services, The Information reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Amazon tops $1.8 bln ad-spending commitment target for video-streaming services, The Information reports
Sep 30, 2024 1:02 AM

Sept 26 (Reuters) - Amazon ( AMZN ) has exceeded its

goal of attracting $1.8 billion in ad-spending commitments on

its video-streaming services for next year, The Information

reported on Thursday citing a person with direct knowledge of

the company's ad sales efforts.

Advertisers negotiate large TV and streaming ad commitments

for the coming 12 months in the upfront ad market, which

recently concluded for 2024.

The spending commitments include ads on Prime Video and

Amazon's ( AMZN ) live sports telecasts, such as the National Football

League's Thursday Night Football games, the report said.

The e-commerce giant is betting it can keep its ad revenue

growth going by investing in streaming TV and capturing a

meaningful share of ad budgets, especially as they increasingly

shift toward streaming-video services.

Amazon ( AMZN ) declined to comment on the report when contacted by

Reuters.

The company began placing ads on its Prime Video offering

for the first time earlier this year.

In July, Amazon ( AMZN ), along with Walt Disney's ( DIS ) ESPN ( DIS ) and

Comcast ( CMCSA )-owned NBCUniversal clinched the rights to

carry National Basketball Association games in an 11-year deal

valued at $77 billion.

The NBA adds to Prime Video's growing roster of live sports

offerings, which include NFL and NASCAR in 2025.

Amazon ( AMZN ) missed estimates for advertising sales, a closely

watched metric, in the second quarter, as it ramps up its

rivalry with Meta Platform and Alphabet's

Google. Sales of $12.8 billion were below average estimates of

$13 billion, according to LSEG data.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved