Amazon.com Inc. (NASDAQ:AMZN) is set to significantly scale up its advertising business, according to MNTN CEO Mark Douglas.
What Happened: Douglas shared his opinion about Amazon’s growing focus on performance advertising on its homepage and in Amazon Prime, during CNBC’s “Last Call” on Tuesday. This strategy, Douglas said, was previously employed by Google and Meta.
“It [Amazon’s advertising] in itself is creating a huge business that is differentiated from all the other advertisers and it’s going to grow significant scale and be very, very profitable,” he said.
Why It Matters: Amazon’s first-quarter earnings report indicated net sales of $143.3 billion, a 13% increase year-over-year. The net sales ...