“Amazon is a media company” used to be a common refrain you heard about the web giant. No longer. The company’s Electronics and General Merchandise segment overtook the Media business for the first time last year, now accounting for approximately 54 per cent of revenues.
As Marc Andreessen might say, this is software eating shopping and Amazon is now competing with the Wal-Marts and Targets of the world, not the local bookstore down the street. What’s more, it looks like the company will soon be a three-headed monster as Amazon Web Services (included in ‘other’ below) continues its jaw-dropping growth. Just today, Amazon reported that the numbers of objects stored on AWS tripled in the past year. In other words, software eating the server.
Keep an eye out for the changing nature of Amazon’s business when they report fourth-quarter earnings tonight.
Photo: Business Insider Intelligence
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.