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Bezos declares Amazon Prime has 100M members

20 April 2018, 01:05 | Melanie Burgess

Bezos declares Amazon Prime has 100M members

Amazon stock up as the company reaches 100 million Prime subscribers

Until yesterday, the total number of Amazon (NASDAQ:AMZN) Prime subscribers had been somewhat of a mystery before Jeff Bezos revealed that the tech giant had crossed 100 million paid subscribers globally.

Bezos didn't offer details to the membership growth, but his company has been expanding Amazon Prime to new countries including Mexico, Singapore and the Netherlands.

He also said that Amazon Music, the company's streaming service which competes with Spotify and Apple Music, now has "tens of millions" of paying customers, and more than double the number just six months ago. From "free", speedy delivery of Amazon purchases, to TV, music, fashion, a virtual library, free delivery on "Fresh" orders and cashback on a Prime Visa Signature Card.

In a statement, Amazon said all its marketplace sellers "must follow our selling guidelines and those who don't will be subject to action including potential removal of their account".

We forecast the total number of paying Prime subscribers to increase to 164 million by 2020, while the average annual Prime subscription fees are expected to increase from around $97 in 2017 to almost $110 by 2020. In the USA, the subscription charges for Amazon Prime are $99 annually which involves two-day shipping, Prime Video, Prime Music, Twitch Prime and more. About the latter, he writes, "Unrealistic beliefs on scope - often hidden and undiscussed - kill high standards".

It was in the annual shareholder letter published on Wednesday that Bezos proceeded to note the milestone.

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Amazon CEO Jeff Bezos arrives for the premiere of "The Post" on December 14, 2017, in Washington, DC.

Amazon also claims to have created over 1.7 million direct and indirect jobs around the world.

In an email to Retail Dive Thursday, Moody's Lead Retail Analyst Charlie O'Shea said the official number from Amazon "reflects the power of the program, and validates the continuing substantial investments on various fronts to both attract and maintain this important core base".

Bezos believes that high standards are teachable and once it is embedded in an organization, it becomes contagious and spreads among members.

Speaking of other milestones globally, Bezos stated that Amazon Web Services is now a $20 billion revenue run rate business, with active users increasing more than 250 percent in the previous year.

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