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Andy Jassy says Prime Video is on track to earn ‘tens of billions of dollars’

Software1 min read

Amazon CEO Andy Jassy says its streaming service, Prime Video, is on track to earn tens of billions of dollars. Amazon also says its movie studio and sports shows are doing well.

Prime Video is growing fast

On Amazon's quarterly earnings call on Thursday, CEO Andy Jassy said Prime Video is now a big business. He said it earns a yearly revenue run rate in the tens of billions of dollars, and it makes a profit on its own. A run rate means the amount of money a company would earn in a year if its current pace continued.

Key numbers

  • Amazon bought MGM four years ago for $8.5 billion.
  • Amazon MGM Studios has earned more than $1.2 billion at the global box office so far this year.
  • Project Hail Mary earned an estimated $684 million worldwide. It is the studio's highest-grossing movie.
  • Season 4 of Reacher drew 66 million viewers worldwide in its first 28 days.
  • Thursday Night Football games averaged 17.7 million viewers in the first six games, up 16% from last year.

Amazon's move into Hollywood

Amazon bought the movie and TV company MGM to build its own films and shows. These shows and movies help bring people to Prime Video. Prime Video also shows live sports, such as NASCAR, the Masters golf tournament, UEFA Champions League soccer, and NBA games.

Why this matters

This is a sign that Amazon's big bet on TV, movies, and sports is paying off. Streaming can be a major source of money for a company, not just a cost. It also shows how hard Amazon is competing with other streaming services for viewers.

What to watch

  • Reacher Season 5 is filming now, and a sixth season has been ordered.
  • Whether Prime Video keeps growing its live sports audience.
  • How Project Hail Mary and other hit films perform in the coming months.

Glossary

Prime Video
Amazon's streaming service for movies, TV shows, and live sports.
Amazon MGM Studios
Amazon's movie and TV studio, formed after Amazon bought MGM.
Project Hail Mary
A hit science fiction movie starring Ryan Gosling, based on Andy Weir's novel.
Thursday Night Football
A weekly NFL football game shown on Amazon's Prime Video on Thursday nights.

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