Amazon Boosts Content Spending to $18.9 Billion in 2023

The tech giant's strategic investments in content and ads aim to strengthen Prime Video's profitability.

Amazon's content spending surged to $18.9 billion in 2023, marking a 14% increase from the previous year.
The increase in spending is attributed to investments in TV shows, movies, music, and significant rights deals, including exclusive streaming rights for NFL Thursday Night Football.
Amazon introduced ads by default on Prime Video, with an option for an ad-free experience at an additional cost, expected to generate significant incremental revenue.
Despite the increased content spending and strategic moves, Amazon faced workforce reductions, including hundreds of layoffs across its subsidiaries.
Amazon's content strategy, including hefty investments and the introduction of ads, aims to bolster Prime Video as a profitable standalone business.