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Tag: Andy Jassy

  • Cannes Lions: Amazon boss Andy Jassy to receive media person of the year award this evening

    Cannes Lions: Amazon boss Andy Jassy to receive media person of the year award this evening

    CANNES: Amazon president & CEO Andy Jassy –  who was announced as the recipient of the prestigious 2025 Media Person of the Year Award on 16 June – will take to the stage at the Debussy Theatre today  in the Palais des Festivals  in Cannes, for a fireside chat, before being presented with the accolade  during the awards show later this evening.

    The 2025 media person of the year award recognises an individual who has made a significant impact on the creative communications industry and who stands as an influential figure within the global media landscape.

    The media person of the year award is given to those who not only excel within the media industry but also drive innovation, creativity and a forward-thinking vision that shapes the future of media. Andy Jassy’s leadership at Amazon has been instrumental in transforming the company into one of the most influential and innovative media platforms in the world.

    Lions chair Philip Thomas at the time of making the announcement had said: “Historically, each year, Cannes Lions has honoured outstanding leaders who have reshaped the media industry. This year, we are proud to recognise Andy Jassy and the entire Amazon organisation. Not only is Amazon the largest media platform globally, but it has also set new standards for scale, creativity, and influence, effectively creating a new model for media. Andy’s visionary leadership continues to push the boundaries of what is possible in media, and we are excited to honour him for his extraordinary contributions.”

    Past recipients include notable figures such as Salar Kamangar of YouTube, Jack Dorsey of Twitter, Eric Schmidt of Google, Mark Zuckerberg of Meta, and Steve Ballmer of Microsoft.

  • Amazon rakes in $187.8 billion in Q4-Because breaking records is a habit

    Amazon rakes in $187.8 billion in Q4-Because breaking records is a habit

    MUMBAI: Jeff Bezos may be off enjoying space tourism, but Amazon is still launching financial rockets. The retail and tech giant didn’t just end 2024 on a high note—it dropped a financial mixtape that went platinum. With a blockbuster fourth quarter, Amazon smashed expectations, delivering record-breaking revenue, sky-high profits, and a holiday shopping season that made Santa look like an amateur.

    Amazon reported net sales of $187.8 billion in Q4, marking a 10 per cent year-over-year (YoY) increase, with north America leading the charge at $115.6 billion. Meanwhile, AWS, Amazon’s cloud computing juggernaut, flexed its muscle with a 19 per cent YoY jump, raking in $28.8 billion.

    Profits weren’t just strong—they were Amazon-strong. Operating income skyrocketed to $21.2 billion, up from $13.2 billion in Q4 2023, while net income nearly doubled to $20.0 billion-or $1.86 per diluted share. Amazon’s international segment pulled off an impressive turnaround, swinging from a $400 million loss last year to a $1.3 billion profit.

    For the full year, Amazon’s revenue soared to $638 billion, an 11 per cent increase from 2023, with AWS contributing $107.6 billion. North America’s sales hit $387.5 billion, while international revenue climbed to $142.9 billion. Operating income more than doubled to $68.6 billion, cementing Amazon’s digital dominance.

    Amazon’s free cash flow swelled to $38.2 billion, up from $36.8 billion last year, while operating cash flow leapt 36 per cent to $115.9 billion. The company stepped up investments, pumping $82.9 billion into fulfillment, technology, and AWS infrastructure.

    Meanwhile, advertising revenue proved a bright spot, growing 18 per cent YoY to $17.3 billion-a clear sign that Amazon’s ad business is going toe-to-toe with industry giants. At the same time, third-party seller services surged 9 per cent to $47.5 billion, highlighting Amazon’s commitment to its marketplace model.

    Reflecting on the company’s record-breaking year, Amazon CEO Andy Jassy remarked, “2024 was a transformational year for Amazon, with innovation at the core of our growth. From AWS advancements to Prime’s fastest-ever deliveries, we are building for the future.”

    Looking ahead, Amazon projects Q1 2025 net sales between $151 billion and $155.5 billion, signaling 5-9 per cent growth, despite a $2.1 billion currency headwind. Operating income is expected to land between $14 billion and $18 billion, as the company strikes a balance between profitability and reinvestment.

    With Amazon delivering results like a Prime package on express shipping, 2025 is already shaping up to be another blockbuster year.

  • Amazon names Doug Herrington as CEO of worldwide Amazon Stores

    Amazon names Doug Herrington as CEO of worldwide Amazon Stores

    MUMBAI: Tech giant Amazon has announced that Doug Herrington will become the new chief executive officer (CEO) of the company’s Worldwide Amazon Stores business, formerly known as “Worldwide Consumer”.

    Herrington is replacing Dave Clark who is leaving the US retailer after 23 years to join logistics firm Flexport as its chief executive officer. Clark’s last day at Amazon is on 1 July.

    Making the announcement recently, the CEO Andy Jassy wrote in a message to the company, “Doug has been at Amazon for 17 years. He joined the company in 2005 to build out our consumables business, launched AmazonFresh in 2007, and in 2015, took on leading all of our North American consumer business. Doug and I have worked together on S-team since 2011. He is a builder of great teams and brings substantial retail, grocery, demand generation, product development, and Amazon experience to bear. He’s also a terrific inventor for customers, thinks big, has a thoughtful vision around how category management and ops can work well together, is a unifier, is highly curious, and an avid learner. I think Doug will do great things for customers and employees alike, and I look forward to working with him in this leadership role.”

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    He further added that as part of this organisational change, the operations organisation will be united under a single leader, John Felton. “John has been at Amazon for nearly 18 years, spending 12 years in Retail & Operations finance leadership roles. In 2018, John moved to Worldwide Operations to become the vice president of Global Customer Fulfillment; and in 2019, he took over the newly formed Global Delivery Services group, encompassing global import/export, Amazon Logistics, and our last-mile delivery services. He joined S-team in September, 2020. John has strong end-to-end knowledge of our fulfillment network, operates with an important mix of strategic thinking and a command of the details that matter most in our network, is right a lot, and is a strong team builder who is dedicated to making Amazon a great place to work for our employees.”

    Felton will report to Herrington, as will Russ Grandinetti (International Stores), Christine Beauchamp (North America Stores), Tony Hoggett (Physical Stores), Dave Treadwell (eCommerce Foundation), Neil Lindsay (Pharmacy/AmazonCare/Healthcare), Dharmesh Mehta (Selling Partner Services), Peter Larsen (Buy with Prime), and Pat Bajari (Chief Economist), the company stated.

    Adding that he remains optimistic about the e-tailer’s stores business, Jassy said he believes they are still in the early days of “what’s possible”.

    It’s worth remembering that Amazon currently only represents about one percent of the worldwide retail market segment share, and 85 percent of that worldwide market segment share still resides in physical stores, he further noted.

    “If you believe that equation will change over time (which I do), there’s a lot of potential for us as we continue to be laser-focused on providing the best customer experience (broadest selection, low prices, fast and convenient delivery) while working on our cost structure to have the right long-term business,” Jassy concluded.

  • Amazon founder Jeff Bezos to step down on 5 July

    Amazon founder Jeff Bezos to step down on 5 July

    KOLKATA: The announcement had been made in February this year: Amazon CEO Jeff Bezos would vacate his post, handing over the reins to the company’s top cloud executive Andy Jassy. Bezos would transition to chairman of Amazon’s executive board. No date was revealed at that time. Now we know when he will follow through on that announcement. Speaking at the company shareholders’ annual general  meeting (AGM),  Bezos revealed that 5 July will be his last official working day as CEO, and Bassy’s first day as head honcho of Amazon.  

    Under Bezos leadership has transformed from being a bookseller to ecommerce pioneer to cloud computing pioneer to entertainment trail blazer.

    “I’m very excited to move into the [executive] chair role, where I’ll focus my energies and attention on new products and early initiatives,” Bezos stated at the AGM. “We chose that date because it’s sentimental for me, the day Amazon was incorporated in 1994, exactly 27 years ago,” he added further.

    Jassy is currently heading Amazon Web Services, who will be replaced by Tableau CEO Adam Selipsky after he takes over his new position. Considerably, the cloud segment is now the company’s most profitable segment.

    Bezos shared his confidence in Jassy saying: “He has the highest of high standards and I guarantee that Andy will never let the universe make us typical. He has the energy needed to keep alive in us what has made us special.”

    While Bezos will still be involved in major corporate decisions, he will focus more on other ventures like Bezos Earth Fund, Blue Origin and The Washington Post.

  • Amazon Prime hits 200 million subscribers

    Amazon Prime hits 200 million subscribers

    NEW DELHI: Amazon Prime, which comprises the e-commerce giant’s video streaming service, has reached a userbase of 200 million, an increase of over 50 million post the outbreak of the Covid2019 pandemic, revealed Amazon CEO Jeff Bezos in a letter to shareholders.

    For comparison, Netflix had over 204 million users at the end of 2020, while Disney+ has amassed more than 100 million users in an year of its launch. Considering the viewing plans, Amazon is considered the most affordable when compared to Netflix and Disney+, and it is giving the OTT platform widespread acceptance in countries like India. 

    Streaming service Prime Video is simply an added value element included in Prime membership. Amazon has never officially revealed how many Prime subscribers are actively using the Prime Video function. 

    However, the company’s attention to churn out  video content has surged significantly over the years. Web series and movies produced by Amazon Studios (which invariably land on Prime Video) are finding favour not only with viewers but critics, too. The OTT platform’s star has been rising on the back of popular shows like The Boys and The Marvelous Mrs. Maisel, as well as Oscar-nominated films like Borat Subsequent MovieFilm and Sound of Metal.

    Bezos, who will be replaced by former AWS head Andy Jassy as Amazon CEO this year, said in his final letter to the company’s shareholders that Amazon customers have connected more than 100 million smart home devices to Alexa. 

    Further, he informed that Amazon is currently employing more than 1.3 million people worldwide. 

    "Last year, we hired 500,000 employees and now directly employ 1.3 million people around the world. We have more than 200 million Prime members worldwide. More than 1.9 million small and medium-sized businesses sell in our store, and they make up close to 60 per cent of our retail sales," wrote Bezos. 

    The world’s richest man added that Amazon has created $1.6 trillion of wealth for shareowners. Additionally, the etailer spent $11 billion on video and music content in 2020, up from $7.8 billion in 2019, and it includes contents for Amazon Prime Video and royalties from Amazon Music. 

    Talking about Andy Jassy, Bezos said, "Andy is brilliant and has the highest of high standards. I guarantee you that Andy won’t let the universe make us typical. He will muster the energy needed to keep alive in us what makes us special. That won’t be easy, but it is critical. I also predict it will be satisfying and oftentimes fun.'' 

  • Amazon Web Services acquires video solutions company Elemental

    Amazon Web Services acquires video solutions company Elemental

    MUMBAI: Amazon Web Services (AWS) has agreed to acquire Elemental Technologies, Inc., which is a software-defined video solutions company for multiscreen content delivery.

     

    The acquisition brings together Elemental’s video solutions with the AWS Cloud platform to provide media and entertainment (M&E) companies with integrated solutions to scale video infrastructures as the media industry increasingly moves to internet based delivery.

     

    Elemental software makes it easy for M&E companies to take live and on-demand video destined for traditional networks like cable, satellite, or over-the-air broadcast and re-format that content for distribution to PCs and smart phones, tablets, and TVs. 

     

    “Elemental shares Amazon’s passion for invention and putting the customer first. Together, we’ll collaborate on deeper technology integrations and new infrastructure offerings so that media and entertainment companies can evolve their hybrid and cloud models as they continue to innovate their services for viewers,” said Amazon Web Services SVP Andy Jassy.

     

    Elemental will continue to operate its business under its existing brand, delivering the full range of solutions for pay TV operators, content programmers, broadcasters, governments, and enterprise customers. Elemental will also expand the integration of its offerings with AWS, and through close collaboration with AWS, accelerate the innovation of next-generation services that feature a range of solutions for customers leveraging on-premises assets, hybrid architectures, and cloud.

     

    “The media and entertainment industry is at a unique inflection point, and as a part of Amazon, we will be in an even stronger position to help our customers delight their viewers globally. We’re thrilled to have Amazon supporting our growth and ongoing commitment to our customers’ success,” said Elemental co-founder and CEO Sam Blackman.

     

    Elemental has more than 700 media franchise customers and powers over-the-top (OTT) TV applications like the BBC’s iPlayer, CNNGo, ESPN Score Center, HBO Go, MSNBC Shift, and Sky Go & Sky Now. Additionally, Elemental is supporting the world’s first 4K Ultra HD services including those that were delivered by the BBC during the 2014 World Cup.