2 AUG 2024

Amazon Announced second quarter results

The company released 19 new films and series under Amazon MGM Studios, with standout titles such as "Fallout", which became the second most-watched original title worldwide at launch on Prime Video. Also, the company earned 62 Primetime Emmy Award nominations.

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Amazon announced financial results for its second quarter. Next, let's review some of their main highlights regarding their audiovisual business. The company released 19 new films and series under Amazon MGM Studios, with standout titles such as "Fallout", which became the second most-watched original title worldwide at launch on Prime Video. Additionally, "The Boys Season 4" reached No. 1 on Prime Video in over 165 countries within its first two weeks. The film "The Idea of You" also attracted approximately 50 million viewers in its first two weeks on the platform.

Amazon earned 62 Primetime Emmy Award nominations, with notable recognition for "Fallout and Mr. and Mrs. Smith", which received 17 and 16 nominations respectively. This achievement highlights the growing impact of its original productions in the entertainment industry and its ability to compete at the highest standards of quality.

FInally, in the sports sector, Amazon secured expansive streaming rights for the NBA for 11 seasons starting in 2025-26 and became the exclusive home of National Hockey League games in Canada. These agreements reinforce Amazon’s presence in the sports sector, expanding its live content offerings and enhancing its appeal to subscribers interested in sports events.

Andy Jassy, Amazon President & CEO provided an overview of the company’s growth:We’re continuing to make progress on a number of dimensions, but perhaps none more so than the continued reacceleration in AWS growth. As companies continue to modernize their infrastructure and move to the cloud, while also leveraging new Generative AI opportunities, AWS continues to be customers’ top choice as we have much broader functionality, superior security and operational performance, a larger partner ecosystem, and AI capabilities like SageMaker for model builders, Bedrock for those leveraging frontier models, Trainium for those where the cost of compute for training and inference matters, and Q for those wanting the most capable GenAI assistant for not just coding, but also software development and business integration," commented.

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