The news: Amazon Prime Video has struck a three-year deal with IPG Mediabrands to feature its clients’ advertisements when they launch on the service in 2024. The agreement will also give IPG first-look access to new video ad formats Amazon develops.
Kicking into gear: Amazon’s 2023 has been spent bolstering its video advertising business, and it’s beginning to enjoy some success. Ad formats centered on Thursday Night Football (TNF) are expected to drive millions in revenues, and the retailer is aggressively pushing to get advertisers on board.
Our take: The IPG deal is a major vote of confidence in Prime Video advertising and could cause other major ad-supported streaming services still gaining a foothold in the market to seek out similar partnerships.