Amazon Prime Now Serves More Than 100 Million Subscribers

20 April, 2018, 01:04 | Author: Franklin Nunez
  • At Long Last, Amazon's Jeff Bezos Confirms Just How Many Prime Members There Are

Amazon chief Jeff Bezos has boasted that the number of paying subscribers for premium next day delivery service Prime has now surpassed 100 million for the first time, breaking his traditional coyness when discussing stats and sales figures.

Amazon has exceeded 100 million paid Prime subscribers on its platform, Bezos said in the shareholder letter.

Bezos said Amazon directly created more than 130,000 jobs in 2017, not including people the company absorbed from acquired companies such as Whole Foods.

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Up until now, it's been left to analysts and market research firms to estimate Prime subscriber figures, with companies putting the number somewhere between 60 million and 90 million previous year.

Amazon has a big lead in cloud computing, a profitable and fast-growing market. Bezos's comments show that Seattle-based company is selling Prime memberships overseas, demonstrating it can replicate its US success abroad, said RJ Hottovy, an analyst at Morningstar Inc. He did not, however, cede numbers on how the company's dozens of new private brands are performing or how many customers are using its first fashion-oriented Prime benefit, the try-before-you-buy service Prime Wardrobe. Amazon Music Unlimited, the on-demand, ad-free offering, expanded to more than 30 new countries in 2017, and membership has more than doubled over the past six months, according to Bezos. Having "high standards" is the key, he wrote. For instance, Amazon has and offers a highly successful cloud computing service, electronics (like the aforementioned smart speakers and tablets), groceries (both in-store and delivery) and, of course, video streaming, among many others.

Amazon shares rose about 1.5 per cent in extended trading after the letter was published. The updated number highlights the growth of the company's subscription service, which Amazon has pushed heavily over the years as a way to retain customers who, in turn, fuel its core retail business with each purchase.

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Bezos urged his team to be realistic saying that "unrealistic beliefs on scope - often hidden and undiscussed - kill high standards".

Amazon also claims to have created over 1.7 million direct and indirect jobs around the world. Currently, the selection includes over 40 million local products from third-party sellers.

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