Jeff Bezos: Amazon exceeded 100 million Prime subscribers

Jeff Bezos: Amazon exceeded 100 million Prime subscribers

Jeff Bezos: Amazon exceeded 100 million Prime subscribers

The e-commerce giant turned part-time streamer has racked up more than 100 million paying customers to its Prime service, according to an annual shareholders letter from the company.

Amazon has kept its Prime subscriber number a closely held secret, forcing analysts to estimate the figure based on shopper surveys.

The above revelation is significant considering that this happens to be the first time the online retail major has ever released the number of its Prime subscribers since it was launched 13 years ago. However, in recent months analyst firms had estimated that Amazon Prime had managed to attract 80 million or 90 million members in the US.

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Members who subscribe to Amazon Prime receive the main perk of getting free two-day shipping on eligible purchases. The memberships encourage consumers to shop more with Amazon to get their money's worth, similar to warehouse clubs like Costco Wholesale Corp. Consumer intelligence research has shown that Amazon Prime members shop on the site almost twice as often as non-prime members. "Customers bought tens of millions of Echo devices, and Echo Dot and Fire TV Stick with Alexa were the best-selling products across all of Amazon - across all categories and all manufacturers".

In his letter, Bezos did more than touch on Prime.

That median pay figure is skewed by the large number of Amazon's more than 560,000 employees who work in its package warehouses, distribution centers, Whole Foods grocery stores and other places far from the ping-pong tables, endless free kale chips and yoga rooms of Silicon Valley's rich tech campuses.

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Bezos noted more than 5 billion items were shipped worldwide using Amazon Prime in 2017, which was first announced in January. He added that 2017 was best year for hardware sales and that the company will continue to invest aggressively to expand its customer base, brand and infrastructure.

New information provided in Wednesday's letter, beyond Prime memberships, included details on subscriptions to Amazon Music, a streaming service that Amazon has been pushing as an alternative to Apple (AAPL) Music, Spotify (SPOT) and Pandora (P).

In 2017, for the first time in company history, more than half of the units sold on Amazon worldwide came from third-party sellers, including small and medium-sized businesses as more than 300,000 USA -based SMBs started selling on Amazon during the year.

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