Streaming hours on Prime Video up more than 70% year over year: Jeff Bezos
The company also said that Amazon Music continues to expand its international reach of podcasts, launching localised offerings in France, Italy, Spain, and India, at no extra cost for all customers
Amazon Prime Video streaming hours were up over 70% year over year, Amazon founder & CEO Jeff Bezos said in a statement announcing the Q1 results. He also said that the e-commerce giant is proud to have Prime Video and Amazon Web Services (AWS) in the family.
“As Prime Video turns 10, over 175 million Prime members have streamed shows and movies in the past year, and streaming hours are up more than 70% year over year. Amazon Studios received a record 12 Academy Award nominations and two wins. Upcoming originals include Tom Clancy’s Without Remorse, The Tomorrow War, The Underground Railroad, and much more," Bezos said.
He further added, "In just 15 years, AWS has become a $54 billion annual sales run rate business competing against the world’s largest technology companies, and its growth is accelerating—up 32% year over year. Companies from Airbnb to McDonald’s to Volkswagen come to AWS because we offer what is by far the broadest set of tools and services available, and we continue to invent relentlessly on their behalf. We love Prime Video and AWS, and we’re proud to have them in the family.”
During the Q1 earnings conference call, Amazon Director Investor Relations Dave Fildes said that the company looks at Prime Video as a component of the broader Prime membership and making sure it's driving adoption and retention as it is. "It's a significant acquisition channel in Prime countries. And that we look at it and see that members who watch video have higher free trial conversion rates, higher renewal rates, higher overall engagement," he said.
"And there are great examples of places like Brazil, where you launch a video-only subscription, for example, that preceded the broader Prime membership with shipping components, and that was, as an example, a great way to expose people to Amazon. And as we launched the broader Prime in Brazil, it was a great mechanism to folks into that program. So, a lot of, kind of different experiences there. But as the -- as Jeff's quote would indicate, a lot more people are continuing to enjoy it."
The company also said that Amazon Music continues to expand its international reach of podcasts, launching localised offerings in France, Italy, Spain, and India for customers across all streaming tiers, at no additional cost. Amazon Music also announced the integration of artist merchandise into the Amazon Music app, providing a new shopping experience for music fans. Customers can now shop a curated, Prime-eligible selection of artist merchandise while listening to their favorite music, uninterrupted.
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