Amazon CEO Andy Jassy said on Thursday that Prime Video has emerged as a profitable business with a revenue run rate in the tens of billions of dollars. Jassy had previously told investors in May that Prime Video was profitable, but the tens-of-billions figure represents a new projection.
The streaming service has benefited from hits across multiple categories. Amazon MGM Studios generated more than $1.2 billion in global box office sales this year, led by Project Hail Mary, which grossed an estimated $684 million worldwide and became the studio's highest-grossing release. The film starred Ryan Gosling and was based on Andy Weir's novel.
On television, Prime Video cited strong performance from shows including Carrie, The Summer I Turned Pretty, The Boys, Off Campus, Fallout, and Reacher. Season 4 of Reacher drew 66 million viewers globally in its first 28 days, and the show was picked up for a sixth season.
Sports programming has also driven viewership. Thursday Night Football averaged 17.7 million viewers across its first six games this season, up 16% from last year according to Nielsen figures Amazon shared. Prime Video also attracted over 2 million viewers for its second season of NBA coverage. The service broadcasts NASCAR, the Masters, and UEFA Champions League soccer.
Amazon paid $8.5 billion for MGM four years ago.