Published: Fri, April 20, 2018
Money | By Michele Stevens

Amazon Has Over 100 Million Prime Members

Amazon Has Over 100 Million Prime Members

Amazon has more than 100 million paid Prime members globally, CEO Jeff Bezos wrote in a letter to shareholders submitted Wednesday to the Securities and Exchange Commission, finally unveiling a statistic that analysts have been chasing for years.

"In 2017 Amazon shipped more than five billion items with Prime worldwide, and more new members joined Prime than in any previous year -both worldwide and in the U.S." he said in the letter.

Amazon also had the most popular item in 2017, selling "tens of millions" of the various Echo smart speakers, according to CNBC. The number of members now paying for an Amazon Prime subscription is over 100 million, meaning that over 100 million people around the world are also subscribed to Amazon Prime Music - Amazon's stripped back music streaming service packaged with Prime. That covered all the benefits of Prime members, including free two-day shipment along with access to its Prime Music and Movies database.

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The power of Prime members is pronounced: They spend roughly twice as much as nonmembers, Ives says.

Bezos noted the milestone in his annual shareholder letter, published Wednesday. "Prime selection in India now includes more than 40 million local products from third-party sellers, and Prime Video is investing in India original video content in a big way, including two recent premieres and over a dozen new shows in production". Previously, Amazon vaguely referred to having "tens of millions of members". That means Amazon brought on board more people in one year than the entire workforce of Google parent company Alphabet Inc., which said it had more than 80,000 employees at the end of last year.

Bezos, who has released such a piece of communication on a yearly basis since 1997, said its critical to continuously set higher and higher standards for the company as time goes on because customers do the same for expectations.

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Amazon offers Prime service in cities in nine countries.

"People are pretty good at learning high standards simply through exposure", he said. The opposite is also true. Amazon has a market value about $740 billion.

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