Amazon is set to introduce advertising on its Prime Video streaming service in 2024, as the tech giant seeks to bolster its investment in original TV shows and films. Prime customers in the UK, as well as those in the US, Germany, and Canada, can expect to encounter ads early next year unless they opt for an “ad-free” subscription option, available at an additional cost.
In a statement, Amazon emphasised that Prime Video still offers “very compelling value” to its subscribers. This move follows a trend seen among streaming service competitors like Disney+ and Netflix, which have also integrated advertising into their platforms.
In a separate development, the return of summer weather last month contributed to a recovery in retail sales, according to official figures from the Office for National Statistics (ONS). The ONS reported a 0.4% increase in retail sales, which expanded to 0.6% when the impact of fuel sales was excluded. The surge was driven by stronger clothing sales, while fuel sales volumes were down by 1.2%, likely due to rising pump costs linked to global oil price increases.
[block_2]
Meanwhile, Boston Federal Reserve President Susan Collins indicated that further interest rate increases were not ruled out, given that inflation remained uncertainly contained. Collins stressed that patience was required from policymakers to ensure they receive the correct signals from data as they work toward achieving their 2% inflation target. Recent inflation data has been promising but not yet convincing, according to Collins, with concerns about elevated inflation in certain service sector aspects.
Lastly, Warner Bros Discovery has unveiled plans for a significant expansion of its UK studios, where a substantial portion of the Barbie movie was filmed. The expansion at the Leavesden facility near London will increase capacity by over 50% and is expected to create approximately 4,000 jobs across the country. Additionally, the expanded studios will become a primary production hub for DC Studios, known for iconic characters like Superman, Batman, and Wonder Woman. Warner Bros estimates that this expansion will raise the value of its UK production by £200 million annually, reaching a total of £600 million. Chancellor Jeremy Hunt welcomed the announcement, stating that it demonstrated “a huge vote of confidence in the UK” by Warner Bros Discovery.
