Prime Video hits 'tens of billions' revenue run rate
Original: Andy Jassy says Prime Video is on track to earn ‘tens of billions of dollars’
Why This Matters
Streaming profitability at scale reshapes Amazon's media unit from cost center to revenue driver.
Amazon CEO Andy Jassy disclosed on an earnings call Oct. 29 that Prime Video now runs at a tens-of-billions revenue rate and is profitable, boosted by Project Hail Mary's $684M global box office and Thursday Night Football's 17.7M average viewers.
Four years after Amazon acquired MGM for $8.5 billion, its streaming bet is paying off. On Thursday's quarterly earnings call, CEO Andy Jassy said 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.' Jassy had confirmed profitability in May, but the revenue scale is a new public disclosure.
Amazon MGM Studios has cleared $1.2 billion in global box office sales so far this year. Project Hail Mary — starring Ryan Gosling, based on Andy Weir's novel — grossed an estimated $684 million worldwide after opening in March, making it the studio's highest-grossing release. Verity also contributed. Not everything landed: the Melania biopic was a notable miss.
On the TV side, Jassy cited Reacher Season 4 (66 million global viewers in its first 28 days), The Boys, Fallout, and others. Sports are pulling weight too: Thursday Night Football's first six games averaged 17.7 million viewers, up 16% year-over-year per Nielsen. The NBA on Prime drew over 2 million viewers in its second season.