The Standard Media Index (SMI) has recognized Amazon as the only major publisher in Canada to report ad revenue growth during COVID-19.
The company has experienced a year-over-year increase of 43 per cent. Moreover, in May and June, Amazon was the lone Top Ten media owner to actually grow ad revenue by eight per cent. All other media owners experienced a decline in ad revenue in June.
In June alone, Amazon saw an increase in revenue to nearly 25 per cent. The strength of Amazon can be attributed to the necessity of e-commerce during the pandemic and shifting consumer behaviours, according to SMI. All other media owners experienced a decline in ad revenue in June. Microsoft at -14 per cent and Jim Pattison Group at -69 per cent, experienced the largest drop.