Amazon CEO says Prime Video hits tens of billions in revenue and turns profitable
Amazon CEO Andy Jassy disclosed that Prime Video has reached a revenue run rate in the tens of billions and achieved standalone profitability, confirming the viability of its media business.
Amazon CEO Andy Jassy stated during Thursday's quarterly earnings call that the company's streaming service, Prime Video, "has emerged as a significant business with a revenue run rate in the tens of billions of dollars and is now profitable in its own right." While Jassy had previously told investors in May that Prime Video was profitable, the disclosure of its revenue scale reaching tens of billions represents a new detail.
This statement marks a significant financial return on Amazon's Hollywood strategy following its $8.5 billion acquisition of MGM in 2022. Amazon MGM Studios has generated more than $1.2 billion in global box office sales so far this year, with Project Hail Mary contributing approximately $684 million worldwide. Additionally, Prime Video has seen progress in sports broadcasting, with the first six games of this season's Thursday Night Football averaging 17.7 million viewers, up 16% from last year.