Reprinted with permission from Australia's Mi3 www.mi-3.com.au March 2023 -- Quentin George (pictured at top), as a headline keynote at its showcase "Decoded" event next week. McKinsey is the architect behind some of the world's leading global Retailer Media Networks (RMNs). George, a former IPG Mediabrands Chief Digital and Innovation Officer, said Amazon, without its $38bn advertising business linking ad impressions to a transaction, would lose $11.6bn a quarter. "And that number is accelerating," he said. "In the next year or two, when you say Amazon, you have to ask what business are they in? They're in the advertising business because that's where the majority of their profits will be derived."
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