Amazon says Prime Video streaming service generates tens of billions

Amazon chief executive officer Andy Jassy announced during a quarterly earnings call on Thursday that the company's streaming service, Prime Video, is now profitable and achieving a revenue run rate in the tens of billions of dollars. TechCrunch reported that Jassy had previously informed investors in May that the service was profitable, but the multi-billion dollar revenue benchmark is a new detail. [1]

TechCrunch reported that the growth follows the acquisition of MGM for $8.5 billion four years ago, along with recent hit films from Amazon MGM Studios such as Project Hail Mary and Verity. [1]

Jassy has served as president and chief executive officer of Amazon since July 2021, when he succeeded founder Jeff Bezos. Before taking the lead role at Amazon, Jassy founded and managed Amazon Web Services from its inception and served as its chief executive officer from April 2016 until July 2021. [2]

Prime Video operates as both a standalone service and a perk included with Amazon's Prime subscription. It is the second-most-subscribed video on demand streaming service globally behind Netflix, maintaining roughly 205 million paid memberships worldwide. The platform offers original films and television series, live sports, and content add-ons from third-party providers. [3]