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Amazon's Prime Video a Profit Powerhouse
30 Oct
Summary
- Prime Video now profitable, generating tens of billions in revenue.
- Amazon MGM Studios films grossed over $1.2 billion globally this year.
- Thursday Night Football averaged 17.7 million viewers this season.
Four years after its $8.5 billion acquisition of MGM, Amazon's investment in its streaming service, Prime Video, is yielding substantial returns. CEO Andy Jassy announced on Thursday's earnings call that Prime Video has emerged as a profitable enterprise, with a revenue run rate in the tens of billions of dollars.
Amazon MGM Studios has contributed significantly to this success, grossing over $1.2 billion in worldwide box office sales this year. This figure is bolstered by popular films such as "Project Hail Mary," which became the studio's highest-grossing release, and "Verity." The studio also experienced notable successes with TV series including "The Boys" and "Reacher."
Sports content has proven to be a major draw for Prime Video, with broadcasts of NASCAR, the Masters, and UEFA Champions League soccer. Thursday Night Football has been particularly successful, averaging 17.7 million viewers for its first six games this season, a 16% increase from the previous year. The NBA on Prime also attracted over 2 million viewers for its second season.
