Breaking down Amazon's revenues (2)

Here are the absolute numbers for Amazon's 8 revenue lines.
Note: indicative.
Note: from 14Q1 to 16Q4 Prime grew from ~$600m to ~$1.8b.


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revenue contribution (%)	03-31-2014	30-06-2014	31-03-2015	30-06-2015	31-3-2015	30-6-2015	30-9-2015	31-12-2015	31-3-2016	30-6-2016	30-9-2016	31-12-2016
media: Amazon retail	4,306	3,770	4,013	5,323	3,912	3,425	3,799	5,229	3,988	3,592	3,890	5,216
electronics & other gen merch: Amazon retail	10,252	10,333	10,678	15,807	11,560	11,923	12,758	18,691	14,405	15,139	15,881	22,079
media: 3rd party sellers	735	685	764	996	835	758	883	1,201	1,029	960	1,098	1,459
electronics & other gen merch: 3rd party sellers	1,749	1,878	2,033	2,958	2,467	2,639	2,966	4,294	3,715	4,048	4,482	6,174
Content subscr, Other (ads, cc, other)	207	213	213	320	234	235	249	303	329	344	372	516
Shipping rev	849	889	1,048	1,701	1,299	1,399	1,494	2,328	1,820	2,000	2,154	3,003
Prime	593	568	660	802	843	982	1,123	1,295	1,276	1,435	1,606	1,758
AWS	1,050	1,005	1,169	1,420	1,566	1,824	2,085	2,405	2,566	2,886	3,231	3,536
TOTAL	19,741	19,340	20,579	29,328	22,717	23,185	25,358	35,747	29,128	30,404	32,714	43,741

Breaking down Amazon's revenues

Amazon supplies different revenue breakdowns:

On a quarterly basis:

• Products & Services
• North America & International & AWS
• Media & Electronics & Other & AWS
• Shipping revenues (separately)

On an annual basis:

• Retail products, Retail 3rd party, Retail subscriptions, AWS & Other
• US, Germany, UK, Japan & RoW

Note: you have to be very careful about what is included in all these items, specifically Shipping, Prime and AWS.

This is what we found for 14Q1 and 16Q4:

Disregarding geographic distribution, this is our estimate for 8 different revenue contributors, based on very few assumptions. We have estimates on a quarterly basis, going back to 14Q1. Our main findings for the period 14Q1 - 16Q4 on revenue contributions:

• Retail media (12%): falling
• Retail electronics (50%): almost flat 
• 3rd Party media (3%): almost flat
• 3rd Party electronics (14%): rising
• AWS (8%): rising
• Prime (4%): flat to rising
• Shipping (7%): rising
• Content subscriptions & other (1%): flat to rising

Note that a stable contribution still implies that growth is in line with Amazon's overall 20+% growth.