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Amazon’s ad business will bring in $4.61 billion this year, according to a new eMarketer study, up a whopping 60% from the projection of $2.89 billion in March.

Why it matters: The new projection puts Amazon ahead of Microsoft in its share of the U.S. digital ad market. While it's still a distant third behind Google and Facebook, Amazon's share is growing so fast that some analysts argue it could one day catch up with those leaders.

Expand chart
Reproduced from eMarketer; Axios Visuals

The bigger picture: The news comes just weeks after Amazon surpassed $1 trillion in market value. Some analysts predict Amazon's ad business is growing so fast that it will overtake its lucrative cloud business, Amazon Web Services, in just two years.

Strong growth in product search and insight into consumer purchase behavior are what eMarketer’s senior director of forecasting Monica Peart cites as fueling Amazon's recent ad growth.

“That increased search traffic gives third-party sellers a reason to increase bids for keywords on Amazon."
— Monica Peart

Between the lines: Amazon's advertising business has quickly become one of its fastest-growing business units, and it will continue to expand as Amazon invests more in video, ad sales staff and ad technology.

  • The company has been doubling down on video ads and ads on its streaming platform Twitch.
  • Amazon CFO Brian Olsavsky has previously told investors of accelerated growth in hiring for Amazon's ad sales and web services teams.

Sound smart: Amazon has reportedly been pitching ad buyers to buy ads on its platforms by saying that they are more "brand safe" or less risky than buying ads on big social media platforms, like Google's YouTube and Facebook.

  • Both Facebook and YouTube have faced advertiser boycotts because of advertisers' concern about having their ads placed next to objectionable content, like terrorist videos.

Go deeper: Amazon's big advertising push

Go deeper

NRA files for bankruptcy, says it will reincorporate in Texas

Wayne LaPierre of the National Rifle Association (NRA) speaks during CPAC in 2016. Photo: Saul Loeb/AFP via Getty Images

The National Rifle Association said Friday it has filed for voluntary bankruptcy as part of a restructuring plan.

Driving the news: The gun rights group said it would reincorporate in Texas, calling New York, where it is currently registered, a "toxic political environment." Last year, New York Attorney General Letitia James filed a lawsuit to dissolve the NRA, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.

54 mins ago - Politics & Policy

Biden: "We will manage the hell out of" vaccine distribution

Joe Biden. Photo: Chip Somodevilla / Getty Images

President-elect Joe Biden promised to invoke the Defense Production Act to increase vaccine manufacturing, as he outlined a five-point plan to administer 100 million COVID-19 vaccinations in the first months of his presidency.

Why it matters: With the Center for Disease Control and Prevention warning of a more contagious variant of the coronavirus, Biden is trying to establish how he’ll approach the pandemic differently than President Trump.

A new Washington

Photo: Stefani Reynolds/Getty Image

D.C. Mayor Muriel Bowser said Friday that the city should expect a "new normal" for security — even after President-elect Biden's inauguration.

The state of play: Inaugurations are usually a point of celebration in D.C., but over 20,000 troops are now patrolling Washington streets in an unprecedented preparation for Biden's swearing-in on Jan. 20.