Amazon's Streaming Service Just Beat Out Competitors In This Major Metric
Amazon (NASDAQ: AMZN) is getting more out of its Prime Video content budget than its biggest competitors.
The company has been breaking out its video and music content expense in its quarterly reports since 2019. That number grew to $16.6 billion in 2022, but it includes spending on Prime Video, Music Unlimited royalties, digital subscriptions like Prime Channels, and digital purchases and rentals.
CFO Brian Olsavsky pointed out that spending on Prime Video alone totaled just $7 billion for the year during Amazon's fourth-quarter earnings call. That's far less than what analysts had projected based on Amazon's previous disclosures. It's also much less than its biggest streaming rival Netflix, which spent $14 billion on content in 2022.
Source Fool.com
