Markets

Amazon Prime service hits 100 million paid subscribers

Amazon Prime service hits 100 million paid subscribers

The big numerical reveal on Wednesday was Amazon.com Inc. finally spilling the beans on the number of Prime members (more than 100 million).

The letter also noted that Amazon shipped more than 5 billion items through Prime globally, and more new members joined than in any previous year.

Prime has more than 100 million subscribers worldwide-far ahead of the Street's estimate of 80 million and the 92 million that GBH Insights analyst Daniel Ives came up with. Prime has more members than Costco Wholesale (COST), Bezos said in his letter to shareholders with his Prime news. Amazon is losing money with its global expansion, but investors will be patient if the company is gaining Prime subscribers, he said. Since then, Amazon has introduced other perks, like free two-hour delivery on certain items and access to Prime Video, the company's own streaming service. Amazon has expanded Prime to Mexico, Singapore, the Netherlands and Luxembourg, even as it introduced Business Prime Shipping in the US and Germany. Last year, the company debuted NFL Thursday Night Football on Prime Video, which garnered more than 18 million total viewers over 11 games. In a letter to the shareholders, Chief Executive Jeff Bezos has stated its Prime program is now $100 million strong.

The reveal highlights the growth of Amazon's subscription service, which it has pushed for more than a decade to retain customers and, in turn, fuel its core retail business with each purchase. Consumer intelligence research has shown that Amazon Prime members shop on the site almost twice as often as non-prime members.

For a consumer-friendly Amazon, the achievement is a "material positive" as Prime members spend almost double that of a nonmember each year, wrote Aegis Capital analyst Victor Anthony.

"In every country and every sector where we employee people, we offer highly competitive wage and benefits such as company stock, health insurance and retirement savings, innovative parental leave, and training for in-demand jobs through our Career Choice program", the company said. "If low standards prevail, those too will quickly spread". "2017 was our best year yet for hardware sales". Amazon has a market value about $740 billion.

"They are teachable, they are domain specific, you must recognize them, and you must explicitly coach realistic scope", Bezos wrote, CNBC reports.


  • The Amazon Fire TV Edition is coming, will you be buying?

    The Amazon Fire TV Edition is coming, will you be buying?

    The new products incorporate Amazon's Fire TV platform, without the need for an additional Fire TV Stick or 4K Fire TV. The Fire Edition TVs by Insignia and Toshiba are created to work seamlessly with Amazon's own voice assistant Alexa .
    Vinesh Phogat wins 50kg gold; Sakshi Malik bags bronze

    Vinesh Phogat wins 50kg gold; Sakshi Malik bags bronze

    This is consecutive gold medal for Vinesh in Commonwealth Games after winning it four years ago in 48kg category in Glasgow. Rahul Aware and Bajrang Punia also won gold medals in Men's Freestyle 57 kg and Men's Freestyle 65 kg respectively.
    Trump & Hannity's 'fair and balanced' hush money lawyer

    Trump & Hannity's 'fair and balanced' hush money lawyer

    Cohen and his attorneys appeared in federal court Monday in NY to challenge the FBI on the materials seized in the raid . Given the notoriety of the case, Ryan had argued to the court, "no one would want to be known " as a client of Cohen's.
  • Man Utd goalkeeper De Gea prefers trophies over individual awards

    Man Utd goalkeeper De Gea prefers trophies over individual awards

    And Aguero has enjoyed another fine season scoring 30 in all competitions, including 21 in the Premier League alone. Marcos Alonso hasn't been able to replicate the form of his debut season with Chelsea way off the pace this year.

    OPCW says experts will only deploy to Douma if given 'unhindered access'

    The accounts contradict what the Syrian government and Russian Federation have reported: that there was no gas attack in Douma. France says it is "highly likely" evidence was disappearing from Douma before weapons experts arrived in the area.
    REACTION: Juventus players 'furious', confronted Real Madrid stars and officials

    REACTION: Juventus players 'furious', confronted Real Madrid stars and officials

    Madrid have been drawn to face Bayern Munich in the semi-final, with the first leg taking place at the Allianz Arena on April 25. It is no surprise that Real Madrid are through to the semifinals of the UEFA Champions League for the eighth consecutive time.
  • Shohei Ohtani dealt with blisters in Japan too

    Shohei Ohtani dealt with blisters in Japan too

    Ohtani's blister spoiled a much-anticipated matchup between the Japanese right and the Red Sox, the best team in baseball at 14-2. In his first two dazzling starts against the A's, Ohtani had a 70.3 percent whiff rate (26 whiffs on 37 swings) on his splitter.
    Fired FBI Director Comey and President Trump Trade Insults

    Fired FBI Director Comey and President Trump Trade Insults

    Both Russia and Mr Trump have denied any collusion or improper activity. "I think it's possible". Mueller III, the special counsel in the sprawling Russian Federation investigation.
    ZTE to suffer huge losses due to export ban from US

    ZTE to suffer huge losses due to export ban from US

    According to a report from Reuters at the time, security concerns were raised during the negotiations between Huawei and AT&T. A senior department official said that the company "provided information admitting that they had made false statements".
  • Raul Castro To Step Down As Cuba's President

    Raul Castro To Step Down As Cuba's President

    The rubber-stamp assembly will vote on another 30 other members of Cuba's state council along with the replacement for Castro. That media went into overdrive Wednesday with a single message: Cuba's system is continuing in the face of change.
    See all the WWE Superstar Shake-up roster moves so far

    See all the WWE Superstar Shake-up roster moves so far

    It's still unknown what exactly they're doing with Kevin Owens and Sami Zayn , as either man was unable to attain a Raw contract. Raw just got GLORIOUS! In his time on SmackDown , he became WWE Champion and ruled through most of previous year .
    Netanyahu warns over Iran after Syria strikes

    Netanyahu warns over Iran after Syria strikes

    African asylum seekers and Israeli activists protest in central Jerusalem, against their deportation, on April 4, 2018. Hezbollah, like Iran and Russian Federation , is backing Assad in the war.