Amazon annual ad revenue up 122% to near $10bn - still far from Google's $29bn
Amazon’s advertising business continues to go from strength to strength after reporting net sales of $2.5bn over the third quarter which can largely be attributed to advertising service sales, a figure which confirms the business is on the threshold of establishing itself as a rival to Facebook and Google.
Amazon closes in on $10bn advertising per year advertising revenues
This healthy figure represents a 122% increase year over year and a jump of $301m from the last quarter, putting Amazon on track to hit the psychologically important $10bn a year mark in annualised sales for the sector.
Amazon’s strength will be a source of concern for the so-called duopoly who must now nervously look over their shoulders as their market share is eroded, with some advertisers beginning to pre-emptively switch as much as half of their budgets from Google to Amazon.
Against Amazon's $10bn, Google owner Alphabet alone generated ad revenues of $28.95bn in the third quarter – equivalent to a 20.3% increase from last year.
The Drum recently charted the rise of Amazon, exploring its position as one of the world's largest advertisers and largest ad platform.
In light of the new found importance of advertising to its bottom line, the firm rebranded its services division as Amazon Advertising.
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