• Amazon's advertising business demonstrated a 24% YoY growth, reaching $11.8 billion and outpacing Google in growth rates, but trailing behind Meta.
• Total Amazon sales for the first quarter of 2024 amounted to $143.3 billion, a 13% increase compared to the same period last year.
• Amazon is participating in the TV Upfronts conference for the first time

Amazon's advertising business now accounts for 8% of the company's total revenue. #Amazon

Growth rate of advertising revenue (YoY)

«This has been a good start to the year for our business, our customers, and our financial results», said Andy Jassy, President and CEO of Amazon. «Our advertising continues to pay off thanks to the growth of our Stores and Prime Video directions».

Despite the growth, Amazon's advertising revenues still lag behind #Meta ($35.6 billion) and #Google ($61.7 billion).

Total Advertising Revenue (in billions $)

Amazon's advertising revenue is also facing competition from the Retail Media Network. Amazon's share in the #USA is still very significant: 74.2% of the entire #Retail Media, according to eMarketer. Total expenditures on Retail Media are expected to reach $140 billion this year, making it one of the fastest-growing segments of the advertising market with an annual growth of 21.8%.

Amazon's dominance in Retail Media is forcing other retailers to act. For example, Walmart, which earned $3.4 billion in advertising last year, plans to acquire smart TV manufacturer Vizio for $2.3 billion to bolster its advertising business.

Total Walmart Advertising Revenue (in billion $)

Publishers

Amazon is doing well. Slowly building their advertising empire. Be like Amazon.

Forecast

The share of Amazon's advertising business will continue to grow.

• Overview of the US programmatic advertising market, March 2024
• Meta doubled advertising revenue by leveraging artificial intelligence
• Google's advertising revenues are once again soaring, but the internet is becoming more closed off