Amazon is estimated to generate ad revenues of $4.61 billion in the US this year, according to figures by eMarketer obtained by Marketing Dive.
Previous forecasts in March 2018 had projected a revenue of $2.89 billion. The latest update reveals that Amazon seems to be growing at a much faster pace than expected.
Indeed, the eCommerce giant is expected to have a share of 4.15% of the US digital ad market this year making it a top three digital advertising platform in the country alongside Oath and Microsoft.
This also means that Amazon is increasingly challenging larger competitors such as Google and Facebook as it eats into their slice of the market. Together, the Internet and social network hold a 57.7% share of the digital ad market.
At the same time, it provides an excellent opportunity for advertisers and particularly brands and retailers to reach customers during the product decision making process.
Interestingly, Amazon is also expected to generate a net mobile ad revenue of $1.61 billion in 2018, which represents a 242% increase over the previous year.
The forecast means that Amazon will have a 2.1% share of the US mobile ad market.