As Amazon leans into content through Prime Video, MGM, FreeVee and live sports, the company said its 2023 content spending totaled $18.9 billion.
Amazon will spend $16.6 billion on content in 2022, “about $7 billion” of which will be spent on “Amazon Originals, live sports, and licensed third-party video content included with Prime.” The company did not break that figure for 2023.
2023 was a significant year for Prime Video, as the company launched its first Black Friday game with the NFL, and its Thursday Night Football slate saw ratings growth. Also, 2023 was the first full year that the company was owned by MGM, giving it a platform for new movies and TV shows.
On the company’s Q4 earnings call Thursday, Amazon CEO Andy Jassy said the company has “increasing confidence that Prime Video can be a large and profitable business in its own right.”
“And we will continue to invest in exciting exclusive content for Prime members thursday night football And Lord of the Rings, reacher, Mr and Mrs Smith, citadel And much more,” he added.
Also on the call, Amazon’s CFO said content spending increased in the fourth quarter due to new sports rights in the UK and other markets, but the company still believes the investment is worth it given consumer response.
2023 also saw the SAG-AFTRA and WGA strikes, which led to a slight decline in content spending at other companies like Disney and Netflix in 2023.