Amazon surpasses Walmart in annual revenue for the first time

This story was originally published on sister site, Modern Retail.

Amazon has eclipsed Walmart in annual revenue for the first time ever.

Amazon said earlier this month that it brought in $716.9 billion in revenue for 2025. That beat Walmart’s sales last year, which came in at $713.2 billion, the company reported on Thursday.

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In Graphic Detail: The state of the marketing agency sector

Media and creative agencies face a range of threats in 2026, from generative AI to media fragmentation and the continued dominance of Meta and Google’s platforms.

In response, few businesses in this sector have stood still. They’ve chosen to merge, acquire — or in the case of Dentsu, cast loose — to keep moving forward. The likely destination? A leaner sector that employs fewer people and trades on its tech bonafides and principal-media trading capabilities over its creative chops.

In the graphs below, we’ve brought together five different ways of seeing the agency sector as things stand now.

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