The Clap
In Q2-2022, Amazon grew faster than all other competitors in the digital ad market, recording 18% growth to reach $8.76 billion in revenues.
The Deets
According to CNBC, they recorded the highest level of growth in the digital ad market (18%), with the second-best growth level being recorded by Snapchat at 13%.
Amazon’s digital ad division attracts brands to pay significant amounts to promote their products on Amazon’s platforms.
What this Shows?
Amazon has adapted well to Apple’s iOS privacy change. This change makes it harder for ad-supported sites to track users, which had a clear negative impact on Facebook and Snap.
Amazon expects revenue growth in Q3-2022 to be around 13%-17%. This figure is very beneficial to the digital ad business, particularly because “the ads business goes as the commerce business goes” as per an analyst at Insider Intelligence.
Amazon dominates the digital ad business 💪
