While it still trails giants like Netflix, Amazon spent $7 billion on video and music content last year, showing it has ambitions to compete against Netflix, Hulu and others.Īmazon also recently bet big on podcasting with the acquisition of startup Wondery, a deal reportedly worth $300 million. While Amazon's retail business makes up the bulk of its revenue, its revenue from its media operations, which spans Amazon Prime Video, Amazon Studios, Amazon Music, Fire TV, Amazon Advertising, and Twitch, is also growing.Īmazon reported $96 billion in third-quarter 2020 revenue of that, its media business accounts for $5 billion in advertising and $6.5 billion in subscriptions, including Prime memberships that includes benefits like free shipping and video programming. Visit Business Insider's homepage for more stories.Īmazon is soaring during the pandemic, and not just from online shopping - as people stream more TV and music, Amazon's media business has also benefitted.Business Insider identified 18 executives spearheading Amazon's media investments.While e-commerce makes up most of Amazon's revenue, Prime Video, Amazon Music, Twitch, and advertising are becoming bigger areas of growth.Amazon is benefiting from e-commerce growing and people engaging with more streamed video and music at home during the pandemic.
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