Does Amazon make more from ads than AWS?

Amazon started disclosing a big and highly profitable business has quietly emerged in the footnotes at the back of the 10k. Amazon’s ‘Other’ revenue line, which is ‘primarily’ advertising, was over $20 billion in 2020.

Amazon is not the only retailer to have realized that the time we spend on its site makes it a media owner by accident. The more privacy and data rules we have, and the faster that cookies disappear, the more that content silos, large audiences and first party data matter in ads and eCommerce.