Prime Video has spent 2026 building a catalogue that stretches from superhero satire and post-apocalyptic adventures to college romances and psychological thrillers. With titles such as The Boys, Fallout, Reacher, The Summer I Turned Pretty, and now Carrie attracting attention, Amazon is making a stronger case for its place in the streaming business. Its growing entertainment portfolio is also becoming an increasingly important part of a much larger commercial operation.

Now, Amazon CEO Andy Jassy is putting some numbers behind that ambition, offering a glimpse into how the company views its streaming business and the money flowing through it.

During Amazon’s third-quarter earnings call, CEO Andy Jassy made a clear case for Prime Video’s financial standing, describing it as a business that has moved beyond simply supporting the company’s retail subscription ecosystem. 

“Prime Video has emerged as a significant business with a revenue run rate in the tens of billions of dollars, now profitable in its own right,” Jassy told analysts. 

Amazon's third-quarter filing recorded $5.9 billion in video and music expenses, approximately 7% higher than the same period last year. For the first nine months of 2026, the figure reached $18.8 billion, representing a 20% increase. One particularly strong performance came from Reacher, whose fourth season attracted 66 million global viewers during its first 28 days, according to Amazon.

As Variety reported, he also highlighted the momentum behind Carrie, The Summer I Turned Pretty, The Boys, Off Campus, Reacher, and Fallout.

Jassy also pointed to films such as Project Hail Mary and live sports, including Thursday Night Football, NBA on Prime, NASCAR, the Masters, and UEFA Champions League soccer, as important attractions. Amazon is now positioning Prime Video as a major business in its own right, rather than merely an expensive addition to its wider subscription ecosystem.

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But Jassy's decision to highlight Prime Video's profitability comes at a particularly interesting moment for Amazon. The company has delivered strong operating results in several areas, yet investors are looking more closely at how much money it is spending to maintain that growth. 

The third-quarter results were not entirely what Wall Street expected. Amazon reported $201.9 billion in revenue, missing analyst estimates of approximately $202.1 billion, while earnings per share came in at $1.89 against expectations of $1.96. Its advertising business also grew by 12% to $19.6 billion, slower than investors had anticipated. Following the results, Amazon shares fell sharply in after-hours trading.

The bigger concern, however, is Amazon's investment in artificial intelligence infrastructure. Its trailing 12-month free cash flow turned into an outflow of $42.4 billion, largely because capital expenditure increased to support AI expansion. Amazon expects its 2026 capital expenditure to reach approximately $220 billion. Against that backdrop, Prime Video's profitability becomes an important talking point. Its combination of subscriptions, advertising, entertainment and live sports gives Amazon multiple ways to generate revenue from viewers. 

However, Andy Jassy has not disclosed the platform's standalone profit figure, leaving investors without a precise breakdown of its margins. For Amazon, the challenge is no longer simply producing the next Reacher or Fallout. It is proving that its entertainment investments can deliver sustainable returns alongside its enormous technology ambitions.

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 Do you think Prime Video has become one of Amazon's most valuable businesses? Share your thoughts in the comments.