Despite adverse market conditions affecting advertising budgets, Amazon's advertising business thrives, reporting $13.92 billion in earnings—a 19% increase from the previous year. CMOs are shifting ad budgets towards Amazon due to its strategic positioning at the point of purchase. Amazon's CEO Andy Jassy highlighted strong performance across full-funnel advertising offerings. Ad execs report significant growth in client spending on Amazon's demand-side platform, predicting a robust future for the company, as it emerges as a critical player in advertising plans amidst economic uncertainty.
"We're seeing strength across our broad portfolio of full funnel advertising offerings that help advertisers reach an average ad supported audience of more than 270 million in the US alone."
"According to six ad execs that Digiday caught up with, the majority of their clients are spending more on Amazon's demand-side platform (DSP) this year, as it seems to be a surefire way to see them through the economic uncertainty."
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