The streaming race is nothing but done now that everyone realized content is still king. A few apps like Peacock and Paramount+ have seen amazing growth in 2024, but one we don't often talk about is Amazon.
Yes, the same Amazon that will ship your toilet paper faster than you can get it from the store is also streaming, and for a long time, it wasn't really doing all that great. It wasn't failing, it just wasn't really growing.
That changed in 2024, the most active year of releases for the platform that couldn't turn the newest James Bond movie into growth back in 2022.
Amazon Prime Video started 2024 with a little over $22M in net revenue in January, according to our estimates. Net means what Jeff gets to keep after Apple and Google take their fees.
Revenue rose quickly and sharply in 2024 and ended the year at a whopping $36M in December, according to our estimates. That means $14M new net revenue in 2024 for a 63% increase. That's twice as much as the growth Amazon Prime Video saw in 2023 and 6 times more than the increase it saw in 2022.
It's no coincidence that Amazon Prime Video released the most new exclusives that went on to gain lots of praise in 2024, including Fallout, Road House, Five Nights at Freddy's, and Beast Games.
While the US is responsible for the majority of Amazon Prime Video's revenue in 2024 and is the only country in the triple-digit millions, Germany, France, Japan, Australia, the UK, and Canada all contributed double-digit millions.
Content is still king, and everyone seems to want it.
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