New Delhi, Amazon Fire TV has exceeded 50 million monthly active users worldwide who are streaming billions of hours of content every month, according to the company.

Amazon said that it has rolled out our biggest software update ever to Fire TV Stick (new generation) and Fire TV Stick Lite devices globally.

"The new experience is more personal and intuitive with user profiles, improved content discovery, and Alexa voice navigation," the company said in its latest blog post.

"For advertisers, new discovery features will help drive higher engagement and surfacing of content while keeping our ad placement types consistent," it aded.

The experience will continue rolling out across Fire TV versions and Fire TV Edition in 2021.

According to eMarketer, there are now over 31.2 million US households that have cut the cord, a 27 per cent YoY increase.

"This is predicted to rise to 46.6 million by 2024. As cord cutting continues at accelerated rates, Fire TV's growth is keeping pace with media consumption trends taking place around the world," Amazon said.

Through internal analysis, Amazon found that the click-through rate on Fire TV's ‘Feature Rotator' is 3x higher than the industry-standard banner ad.

Today, there are 70 million US households using OTT services, and they are watching an average of 102 hours per month.

"Free content offers a great customer experience without the need for any additional costs or subscriptions, and 76% of consumers are willing to see ads in exchange for free streaming".

The company has also introduced new ways to manage campaigns with cost-per-click pricing and self-service, increasing both flexibility and optimisation of Fire TV campaigns.