Many ad companies and traditional media owners are braced for painful contractions as coronavirus brings marketing spend to a halt. However, Amazon’s ad business has emerged as a bright spot in the company’s Q1 financial update despite belt-tightening from brands in other areas.
The e-commerce giant disclosed on Thursday (30 April) that its ‘other’ division (which chiefly comprises revenues from its advertising arm) had seen a gain of 44% over the past three months to reach $3.9bn. Though Amazon doesn’t break out its ad revenue figures, chief financial officer Brian Olsavsky told investors that the Q1 ad growth rate was in Read full story ›
Source: The Drum
Industry News