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Big News Network / Friday April 20, 2018
Bezos reveals Amazon Prime now has 100 million subscribers
In his annual shareholder letter, which is being published since 1997 and is considered a must-read among Amazon executives and business leaders globally - the eCommerce giant’s founder and CEO Jeff Bezos revealed statistics of the company’s growth. In the letter, Bezos revealed that Amazon Prime membership has exceeded 100 million paid Prime members worldwide, listing the figure as one of Amazon's chief milestones from the past year. Bezos further noted that in 2017, Amazon shipped over 5 billion items with Prime worldwide, and that Prime gained more new members than in any previous year. The revelation about the Prime subscriber figure has, for years, been a closely held secret. Tech experts have even speculated at the figure, since the company has never revealed any particular number until now. Now, experts pointed out that the figure confirms that Prime is one of the world's largest Internet subscriptions and a behemoth among online retailers. In comparison, Netflix boasts of 125 million subscribers. Experts also noted that while estimating the actual revenue from this stream might be difficult, it is clear that having a Prime account keeps members coming back for more as shoppers come to rely on the convenience of online browsing and free two-day shipping on over 100 million items. Prime members currently also have access to features like Prime videos, songs and e-books. According to Michael Levin, partner and co-founder of Consumer Intelligence Research Partners, the figure was on par with his growth estimates. Levin said that as of the end of September, Prime had an estimated 90 million U.S. members alone. He noted, "It would...Read more