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.