Amazon Just Made a Move to Put Its Ad Revenue Growth Into Overdrive

Amazon.com's (NASDAQ: AMZN) advertising business is one of the fastest growing revenue sources for the company, and it's turning out to be its next big growth product. The company recently took a major step toward growing the business by opening its self-service platform and certain ad inventory to a wider group of brands and agencies. The company has been testing its self-service platform for over a year, according to Digiday, but it's now pushing into more automated ad bidding.

Self-serve platforms are the key to scaling an ad business. There's a lot of focus on Snap's (NYSE: SNAP) self-serve platform, which many investors see as the most important catalyst for increasing ad revenue for the company. Amazon's self-serve platform could do the same for its burgeoning ad business, helping it compete with Facebook (NASDAQ: FB) and Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google for ad dollars.

Image source: Amazon.com.

Source: Fool.com