Amazon’s ads business posts 87% growth

Amazon’s ads business posts 87% growth

S ads growth just keeps ballooning. The company's "Other" unit, which is primarily made up of advertising but also includes sales related to other service offerings, grew revenue by 87% year-over-year in the second quarter to more than $7.9 billion, the company Thursday. That's the segment saw in the second quarter of 2020 and up from the 77% year-over-year growth it saw . Amazon chief financial officer Brian Olsavsky said Thursday that new products and functionality helped drive higher demand and higher bid rates. Amazon Advertising launched "over 40 new features and self-service capabilities" in the quarter, the in its earnings release. Amazon said one example is a tool that creates regional sponsored product campaigns. It said it also expanded the services it offers in Australia, Europe, India, Japan and Saudi Arabia. Though the pandemic has significantly impacted certain segments of advertising spend, digital advertising has seen a hot period on the back of stay-at-home trends like online shopping. The digital ad momentum has even as some parts of the world have begun to reopen. Amazon's cut of the industry of the U.S. ad market last year and is expected to . The company made its at the IAB NewFronts